Briscoe Group has delivered a 69 per cent spike in net profit during the first half of FY22, reaching a new record of $47.4 million.

The business previously noted sales for the period grew 22.58 per cent to $358.4 million despite around 50 days of store closures.

“We’re delighted to have produced such a strong first-half result,” said Briscoe Group managing director Rod Duke.

“After the strong post-lockdown recovery experienced during the second half of last year, it’s very pleasing to have been able to complement that recovery with the inclusion of other initiatives which we have introduced in relation to our three key strategic areas: enhancing the shopping experience, improving our supply chain and developing new revenue systems.”

Briscoe Group has begun working with KPMG to improve its supply chain, and has installed in-store kiosks allowing customers to shop online in store, as well as selling some online products direct from supplier.

The group’s online sales represented 16 per cent of total revenue for the half year, and will continue to be improved, said Duke.

However, under the current trading restrictions, the business is expected to see an impact to sales in September.

“The degree to which consumer demand will rebound as different parts of the country move down alert levels is not certain; however, from last year’s experience we do expect pent-up demand to drive strong group sales levels from October through the the end of the group’s financial year on 30 January 2022,” Duke said.