Briscoe Group is on track to exceed last year’s annual profit after reporting a third quarter group sales result that was 4.5 per cent above last year’s.

For the thirteen weeks ending October 26, 2014, the group sales were $108.2 million, compared with $103.5 million for the same quarter in 2013.

Homewares sales were $70.5 million, an increase of 2.1 per cent from the same quarter last year.

Sporting good sales were $37.7 million, an increase of 9.2 per cent.

Calculations on a same store basis showed third quarter sales increasing by 2.8 per cent for homewares and 9.2 per cent for sporting goods.

For the year to date, the group sales were $339.6 million, compared with $320.9 million for the first three quarters of 2013, and increase of 5.8 per cent.

Homewares sales for the year to date increased by 4.3 per cent, and sporting goods increased by 8.9 per cent.

Calculations on a same store basis showed a year to date group sales result that was 5.9 per cent ahead compared with the same period in 2013.

Homewares increased by 4.4 per cent and sporting goods increased by 9 per cent according the same store analysis.

“We are very pleased with the group’s performance across this third quarter in a market which continues to demand aggressive promotional activity to drive sales,” Rod Duke, group MD, said.

“We are particularly pleased with the third quarter gross profit which continues to grow at a faster rate than our sales. All other key performance indicators also remain ahead of last year for the cumulative nine month period.”

“As we begin the crucial final quarter we remain optimistic in our outlook. We are certainly encouraged by our performance to date and are confident that the group’s full year tax paid profit will easily exceed last year’s tax paid profit result of $33.58 million.”