Briscoe achieves record sales amid tightening margins

Briscoe Group (ASX:BGP) announced its full-year financial results for the period ended Jan. 25, navigating a challenging retail landscape to deliver record total sales of NZ$798.8 million.

This represents a 0.93% increase over the previous year, supported by growth in both the homeware (+1.42%) and sporting goods (+0.13%) segments.

Despite the top-line success, the group's net profit after tax dipped slightly to NZ$59.2 million, down from the NZ$60.6 million reported in the prior period.

The result highlights a tightening of profitability, with the gross profit margin falling by 114 basis points to 39.23%.

Managing Director Rod Duke attributed this pressure to a "highly competitive retail environment" and persistent strain on discretionary spending.

However, the group maintained rigorous cost control, with total expenses rising by only 1.19%, and demonstrated strong inventory discipline with stocks ending NZ$8.9 million lower than last year.

Online sales also continued their upward trajectory, now accounting for 20.04% of total revenue.

Shareholders are set to receive a final fully imputed dividend of 10 NZ cents per share, payable on March 31.

This brings the annual total to 20 NZ cents, consistent with the company's policy to distribute at least 60% of NPAT.

Group Chair Dame Rosanne Meo struck a cautious tone, noting that while the business remains resilient, global events are contributing to an increasingly "uncertain external outlook" for the coming year.