Briscoe Group (ASX:BGP) Posts Record Half-Year Sales of $374.2 Million, Shares in Focus

Sonal Goyal

16 September 2026 05:45 PM AEST

Briscoe Group (ASX:BGP) Posts Record Half-Year Sales of $374.2 Million, Shares in Focus

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Key Highlights

Group sales reached a record $374.2 million for the 26-week period, up 0.79% on the prior corresponding half
Net profit after tax eased to $27.6 million from $29.3 million a year earlier as gross Margin narrowed
Online sales climbed 2.07% to $73.4 million, lifting the online share of Group sales to 19.60%
The Board declared an Interim Dividend of 10.0 cents per share, payable on 8 October 2026

Briscoe Group Limited (ASX:BGP) reported record first-half Group sales of $374.2 million for the 26-week period ended 26 July 2026, an increase of 0.79% on the $371.3 million recorded in the corresponding period a year earlier. The result marked the company's third consecutive quarter of positive sales growth, achieved in an operating environment the Board described as one where households remain cautious with discretionary spending. Briscoe Group trades across two complementary retail segments, sporting goods and homewares, a structure that has allowed the company to offset softness in one category with growth in another.

The half-year results, which are unaudited, showed net profit after tax of $27.6 million, down from $29.3 million in the prior corresponding period. The decline in profitability came despite the increase in sales, reflecting a narrower Gross Profit Margin over the period.

Gross Margin Narrows as Inventory Is Trimmed

Gross profit percentage for the half came in at 40.85%, a decline of 58 basis points compared with the same period last year. Total inventory stood at $104.8 million, which was $1.2 million lower than the corresponding period, suggesting the company maintained a degree of stock discipline even as sales volumes increased. Chair Dame Rosanne Meo noted that the positive sales growth and the reduced decline in gross profit percentage indicated the Business was responding well to prevailing conditions, while the Group continued to invest in a substantial programme of operational change.

Sporting Goods Advances While Homewares Softens

Sporting goods sales increased by $3.6 million to $145.1 million, a rise of 2.56%, with Group Managing Director Rod Duke attributing the gain to heightened customer interest generated by major sporting events during the half, including the FIFA World Cup, Auckland FC's A-League triumph, the Warriors' NRL campaign and the All Blacks' home season in the Nations Championship.

Homewares sales moved in the opposite direction, decreasing by $0.7 million to $229.1 million. The company attributed the softer result to reduced Demand for heating products following a milder start to winter, together with weaker luggage sales as international travel uncertainty weighed on discretionary purchases in that category.

Online Sales Continue to Gain Share

Online sales increased 2.07%, or $1.5 million, to reach $73.4 million for the half, lifting the online channel's share of total Group sales to 19.60%, up from 19.36% in the prior corresponding period. Rod Duke said customers continued to move readily between the company's online and store channels, with both formats contributing to the online growth recorded during the half.

Investment Programme, Dividend and Distribution

The half-year period included the opening of a new North Island distribution centre, now operational, and the May 2026 launch of the Club Rebel rewards system, both forming part of a broader programme of strategic change referenced by the Board. The directors resolved to pay an interim dividend of 10.0 cents per share. Books will close to determine entitlements at 5pm on 25 September 2026, with payment scheduled for 8 October 2026. Briscoe Group's stated dividend policy is to pay out at least 60% of NPAT on a full-year basis, and Dame Rosanne Meo said the Board continues to take a measured approach to Capital allocation, balancing recognition of the Group's ongoing profitability with the flexibility required to complete its current Investment programme and assess future growth opportunities.

Key Takeaways

Briscoe Group's first-half results reflect a retailer navigating a cautious consumer environment through the combined strength of its two trading segments. Record Group sales and a third straight quarter of growth were achieved even as net profit after tax declined year-on-year and gross margin narrowed by 58 basis points, underscoring the margin pressure that accompanied the sales gain. Sporting goods benefited from a calendar of major sporting events during the half, while homewares faced headwinds from weather patterns and softer travel-related demand. With a new distribution centre operational, a new loyalty programme launched, and an interim dividend maintained at 10.0 cents per share, the Group has continued its investment programme while distributing a portion of profit to shareholders.

FAQs

Q: What were Briscoe Group's key first-half financial results for FY2026?

A: Briscoe Group (NZX/ASX:BGP) reported record Group sales of $374.2 million for the 26-week period ended 26 July 2026, up 0.79% year-on-year, while net profit after tax was $27.6 million, down from $29.3 million in the corresponding period last year.

Q: Why did net profit after tax fall despite record sales?

A: Net profit after tax declined mainly because the gross profit percentage narrowed by 58 basis points to 40.85% compared with the prior corresponding half, offsetting the benefit of higher sales.

Q: How did the sporting goods and homewares segments perform?

A: Sporting goods sales rose 2.56% to $145.1 million, supported by major sporting events during the half, while homewares sales fell to $229.1 million as heating and luggage demand softened.

Q: What is Briscoe Group's interim dividend and when is it paid?

A: The Board declared an interim dividend of 10.0 cents per share. Entitlements are determined as at 5pm on 25 September 2026, with payment scheduled for 8 October 2026.

Q: What strategic initiatives did Briscoe Group progress during the half?

A: The company opened a new North Island distribution centre and launched its Club Rebel rewards system in May 2026, both forming part of its broader investment programme.

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