Briscoe Group (BGP) H2 2026 earnings summary

Executive summary

• Delivered record sales of $798.8 million, up 0.93% year-over-year, despite challenging retail conditions and pressure on consumer confidence and discretionary spending.

• Net profit after tax was $59.2 million, slightly down from $60.6 million the prior year, reflecting margin pressure and lower interest income.

• Continued disciplined execution of strategic priorities, including major investments in supply chain, digital platforms, and store refurbishments.

• Maintained strong balance sheet with $130.3 million in cash and no drawn term debt at year end.

• Board declared a fully imputed final dividend of 10.0 cents per share, bringing the total annual dividend to 20.0 cents per share.

Financial highlights

• Total Group sales: $798.8 million (+0.93% YoY); Homeware sales: $496.8 million (+1.42% YoY); Sporting Goods sales: $302.1 million (+0.13% YoY).

• Gross profit: $313.4 million; gross margin: 39.23% (down from 40.37% YoY).

• Operating costs increased 1.19% YoY; store expenses $127.9 million, admin expenses $90.1 million.

• Net profit after tax: $59.2 million; EPS: 26.6 cents (diluted 26.5 cents).

• Online sales reached 20.04% of total sales, up from 19.69% YoY.

• Free cash flow remained strong at $49.0 million.

Outlook and guidance

• Operating environment expected to remain uncertain in the near term, with ongoing competitive intensity and slow recovery in consumer confidence.

• Focus for the year ahead is on disciplined inventory management, cost control, and transitioning to value delivery from recent investments, especially the new Drury Distribution Centre.

• Anticipated benefits from automation and digital investments expected to emerge toward the end of 2026 and beyond.

• Capital expenditure of $57 million planned for the next financial year, mainly for the distribution centre project.