Briscoe Group defies odds - profit dips marginally

Author
Newstalk ZB,
Publish Date
Tue, 8 Sep 2020, 6:30PM
Briscoe Group's managing director Rod Duke. Photo / Mark Fryer

Briscoe Group defies odds - profit dips marginally

Author
Newstalk ZB,
Publish Date
Tue, 8 Sep 2020, 6:30PM

Cancelled holidays seem to have boosted profits for the company that owns Briscoes, Rebel Sport and Living and Giving.

It's made a net profit of nearly $28 million dollars for the half year ended July 26, just 1.3 percent down on last year.

Briscoe Group managing director Rod Duke says there's extraordinary demand in the suburbs after 50 days in lockdown.

"There's a bit more money in households from cancelled holidays, so people are spending it on their home."

Briscoe Group had put dividends on hold because of Covid-19, but directors have now decided to pay an interim dividend of nine cents a share, up from 8.5 cents last time.

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