WELLINGTON Feb 1 New Zealand retailer Briscoe Group expects profits to rise at least 9 percent for the current financial year, thanks to strong sales over the Christmas period and a boost in business at its sporting goods shops after the 2011 Rugby World Cup.
The company, which also operates a chain of homewares shops, said unaudited sales between Jan. 30, 2012, and Jan. 27 this year totalled NZ$452.7 million ($380.43 million), an increase of 3.35 percent from the same period last year.
"We now expect the Group's reported full year tax paid group profit to exceed NZ$30.0 million," managing director Rod Duke said in a statement.
"This would represent an increase of at least 9 percent over last year's NZ$27.53 million."
Briscoe will reports its final full-year results on March 7. ($1 = 1.1900 New Zealand dollars) (Gyles Beckford)