Briscoe Forecasts Annual Net Profit of Up to NZ$55 Million
Briscoe's 3Q trading update disappointed Forsyth Barr. The retailer forecast annual net profit of up to NZ$55 million, 8% below the broker's forecast; quarterly sales rose 1% while gross margins declined.
New Zealand-based retailer Briscoe's 3Q trading update disappointed Forsyth Barr. Briscoe forecast an annual net profit of up to NZ$55 million. That was 8% below Forsyth Barr's forecast. While quarterly sales rose by 1%, gross margins declined.
"While we recognize that Briscoe are high-quality reta…