5 Sep 2014

Briscoe expects more profit increases

8:51 am on 5 September 2014

Briscoe Group's managing director can not see any reason why his company won't continue its track record of strong profit increases.

The group lifted its first-half dividend more than 22 percent to 5.5 cents per share.

However, that's still only 64 percent of first-half earnings.

Yesterday the group reported a near 24 percent lift in first-half net profit to $18.5 million, reflecting rising sales and higher profit margins. The result was boosted by an insurance payout of just over $1 million. Excluding that payout, net profit rose more than 17 percent.

A highlight of the result was the near 42 percent jump in operating profit from the Rebel Sports stores.

Managing director Rod Duke said Rebel's competitors could not offer the range of products sports retail chain does.

"We stock all the best brands in the world and we're very very famous for stocking lots, and lots, and lots of sports and we're famous for good pricing."

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