9 Sep 2013

Will Briscoes buy another business?

8:05 am on 9 September 2013

With $60 million sitting in its bank account, there is speculation Briscoe Group might make an acquisition.

Last week the company, which owns Briscoes, Rebel Sports and Living and Giving, lifted its first-half net profit by 12.4% to $14.9 million for the six months to July, compared with $13.3 million in the same period last year.

Craigs Investment Partners analyst Mark Lister says the company has previously said acquisition was an option, but it would be picky about what business it would choose.

He says while that probably remains the case, the company has the funds to make a swift purchase.

"They can move pretty quickly on that if something does come up that they think is the right business at the right price," he says.