Briscoe Group Limited

Overview

The company's beginnings date from 1862 when the first Briscoes warehouse and store was opened in Dunedin, by William Briscoe & Son. Australian and NZ operations were purchased by Merbank Corporation of Australia in 1973, and following extensive rationalisation, by Hagemeyer in 1977. Following several years of losses, the business was acquired by CEO Rod Duke, in 1990. Stock exchange listing followed a public issue of 40m shares at $1 each in November 2001.

By 2008, Briscoe Group Limited's retailing interests totaled 57 Homeware Stores and 32 Sporting Goods Stores.

Performance

The following information was extracted from Briscoe Group Limited's half year, released on 16 September 2026:

Half Year Commentary

Briscoe Group Limited (NZX/ASX code: BGP)

Record First-Half Sales While Advancing Major Strategic Investments

First Half Highlights (26-week period – 26 January 2026 to 26 July 2026):

• Record Group sales of $374.2 million, +0.79%

• Third consecutive quarter of positive sales growth

• Sporting goods sales +2.56%

• Online sales +2.07%, representing 19.60% of Group sales

• Gross profit percentage of 40.85%, a decline of 58 basis points

• Total inventory of $104.8 million, $1.2 million below last year

• New North Island distribution centre open and operational

• New Club Rebel rewards system launched May 2026

• NPAT of $27.6 million

• Interim dividend of 10.0 cents per share

The directors of Briscoe Group Limited (NZX/ASX code: BGP) announce a net profit after tax of $27.6 million for the half-year ended 26 July 2026, compared with $29.3 million for the corresponding period last year. The half-year results are unaudited.

Dame Rosanne Meo, Briscoe Group Chair, said, “This is an encouraging first-half result in an environment where households remain cautious. The positive sales growth and the reduced decline in gross profit percentage show the business is responding well while we continue to invest in a substantial programme of change with several important projects moving into operation.”

The directors have resolved to pay an interim dividend of 10.0 cents per share. Books will close to determine entitlements at 5pm on 25 September 2026, with payment to be made on 8 October 2026. The company’s dividend policy is to pay out at least 60% of NPAT when calculated on a full-year basis.

Dame Rosanne Meo said, “The Board continues to take a measured approach to capital allocation. The interim dividend recognises the Group’s ongoing profitability and financial strength, while retaining the flexibility required to complete the current investment programme and assess future growth opportunities.”

Rod Duke, Group Managing Director, said, “Delivering record first-half sales, alongside a third consecutive quarter of sales growth is particularly encouraging given the continued caution in household discretionary spending. The result reflects strong execution by our teams, the enduring appeal of both retail brands and the benefit of operating across two complementary segments.”

Group sales for the first half reached a record $374.2 million, compared with $371.3 million for the corresponding period last year. Sporting goods sales increased by $3.6 million to $145.1 million, while homewares sales decreased by $0.7 million to $229.1 million.