4th Quarter / Full Year Sales

4th Quarter / Full Year Sales

The directors of Briscoe Group Limited announce that unaudited sales for the three months ended 31 January 2006 were $116.0 million, being 7.44% higher than the $107.9 million reported for the fourth quarter of last year.

Briscoes Homeware sales increased 5.78% to $78.4 million and Rebel Sport sales rose 11.08% to $37.6 million.

On a same store basis, the group’s sales for the quarter were 3.11% above those for the fourth quarter of last year.

The group added two new stores during the quarter with the opening of a Briscoes Homeware store at Wairau Park, Auckland and a Rebel Sport in Gisborne. Briscoes Homeware stores now number 37 with total store area of 77,058 sqm. Rebel Sport store numbers increased to 21 with total store area now at 42,116 sqm.

The January 2006 quarter sales figure takes unaudited group sales for the year ended 31 January 2006 to $343.5 million, a rise of 7.94% over the $318.3 million reported for last year. Briscoes Homeware sales increased 6.64% during this period, while Rebel Sport sales increased 10.67%.

On a same store basis the group’s sales for the twelve months ended 31 January 2006 were 3.35% ahead of the same period last year.

Briscoes Homeware same store sales increased 1.71% compared with the twelve months of last year, while Rebel Sport sales increased by 6.49%.

Managing Director, Rod Duke said, “With sales levels in line with expectations for the final quarter and margins continuing to be strong through January, the Group is well placed to deliver a significantly improved profit performance for this financial year in comparison to the previous year. Currently the analysts’ range is from $23 million to around $25 million for tax paid profit and the directors concur with this range.”

The directors expect to report the final full year audited result on 17 March 2006.

Friday 3 February 2006

ENDS

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