Briscoe Group’s third-quarter revenue increased on the back of higher sales in both its homewares and sporting goods chains but the company remains cautious amid economic uncertainty.
The company’s revenue during the three months to October 29 rose 2.37 per cent year over year to $179.7 million.
Homewares sales lifted 1.32 per cent to $109.1 million while sporting goods sales at its Rebel Sports network went up 4.05 per cent to $70.6 million.
“To post positive sales growth across both the homewares and sporting goods segments in an extremely tough trading environment as highlighted in recent retail announcements, is an excellent achievement,” said Rod Duke, MD at Briscoe Group.
“As we enter the final and crucial quarter of our financial year and with the general election behind us, we remain cautiously optimistic about the retail environment and the economic conditions that impact consumer spending.”
Sales across the first three quarters of FY23 inched 1 per cent higher to $548.9 million.
The company forecasts a full-year net profit after tax of higher than $80 million but maintains it cannot replicate the $88.4 million NPAT of the previous year.
