Briscoe Group Limited (ASX:BGP) Trading Update and NPAT Guidance
Trading Performance Overview
Briscoe Group Limited (ASX:BGP) reported a mixed trading performance for the 48 weeks ending 29 December 2024. Year-on-year sales for the group decreased by 0.28%, primarily driven by challenges in the sporting goods sector. Homeware sales saw a minimal increase of 0.82% over the past nine weeks, while overall group sales increased by 0.42% in the same period.
Executive Insights
Group Managing Director Rod Duke commented on the ongoing economic pressures affecting consumer confidence. He stated, “In line with recent reports highlighting a struggling economy and sluggish spending across retail, we are yet to see any marked improvement.” Despite challenges, Duke noted that finishing the year at 99% of last year’s record sales would be significant.
Profit Forecast Adjustments
Looking ahead, Briscoe Group updated its net profit after tax (NPAT) expectations, predicting it will exceed $66 million, which is below previous guidance ranges due to subdued trading in the critical final quarter. This forecast excludes a one-off, non-cash tax adjustment of $7.4 million resulting from recent changes to tax depreciation policies.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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