Briscoe Group Limited (NZX: BGP) Full Year Results Announcement

Tuesday 16th March 2021

The directors of Briscoe Group Limited announce a record net profit after tax (NPAT) of $73.20 million for the year ending 31 January 2021, a 16.96% increase on the $62.58 million reported for the previous year.

The result incorporates an additional week’s trading in comparison to the 52-week period last year. The additional week is necessary because the Group operates on a weekly trading and reporting cycle of 52 weeks for most years with a 53-week year required once every five to six years to realign the financial and calendar year-ends.

Board Chair, Dame Rosanne Meo announced that the directors have resolved to pay a final dividend of 13.5 cents per share (cps). The dividend is fully imputed and, when added to the interim dividend of 9.0cps and the special dividend paid in January of 6.0cps, brings the total dividend for the year to 28.5cps. The final dividend will be paid on 31 March 2021. The share register will close to determine entitlements to the dividend at 5pm on 24 March 2021. “We’re delighted to be in a position to increase both the interim and final dividend payments, in addition to the recent special dividend paid to shareholders in January.

“We’re very proud of how our team has performed, the financial results produced and also of how the Company has endeavoured to balance the interests of stakeholder groups - team, customers, suppliers and shareholders alike.”

Rod Duke, Group Managing Director, said, “We are pleased to announce record sales and profit for Briscoe Group in a year truly like no other. Navigating the twists and turns encountered this year really has been like riding a retail roller-coaster. I’m immensely proud of the commitment and effort shown by the entire Briscoe Group team which has enabled us to remain focused on delivering our unique value proposition which clearly continues to resonate strongly with customers. It is a priority for the business that the momentum established this year continues as the basis for on-going growth and success.”

The earnings were generated on sales revenue of $701.8 million, an increase of 7.47% on the $653.0 million generated for the previous year.

Highlights for the full year ended 31 January 2021:

• Total sales $701.8 million, +7.47%

• Gross profit $307.1 million, +19.27%

• Gross profit margin 43.76% vs 39.43% last year

• Online sales growth, +79.65%

• Online sales as mix of total Group sales, 18.82%

• Net profit after tax (NPAT) $73.2 million, +16.96%

• Final Dividend 13.5 cps

Please see the links below for details:

BGP Full Year Results Announcement 31 January 2021

BGP Distribution Notice

BGP Full Year Results 31 January 2021 Addendum

Source: Briscoe Group Limited

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