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“We are pleased to announce another record profit for Briscoe Group in a market that has been challenging for many retailers,” Mr Duke said.
Photo from ODT filesKiwi retailer Briscoe Group has posted a record full year profit in an industry chief executive Rod Duke says is challenging.
“But we remain cautiously optimistic about the year ahead for Briscoe Group.”
Briscoe shares, of which Mr Duke owns more than three-quarters, last traded at $4.39 and have gained 8.9% so far this year.
Mr Duke said he’s watching “Kathmandu’s performance closely as they seek to restore historical levels of profitability.”
Briscoe posts another record profit
Briscoe posts another record profitTuesday 14 March 2017 01:32 PMBriscoe posts another record profit, bolstered by asset sale, Kathmandu divvyBy Paul McBethMarch 14 (BusinessDesk) – Briscoe Group lifted annual profit 26 percent to deliver another record profit as the homeware and sporting goods chain bolstered fatter margins with a gain on the sale of a Hastings property and dividends from Kathmandu Holdings.
Briscoe shares, of which Duke owns more than three-quarters, last traded at $4.39 and have gained 8.9 percent so far this year.
That values Briscoe at $963.7 million, compared to $863.6 million for Warehouse, which was recently up 0.4 percent to $2.49.
Briscoe increased online sales by more than 40 percent, and they accounted for 6 percent of the retailer’s $582.8 million in revenue.
Duke said retailing is still a tough environment with a number of rivals struggling, but that Briscoe is still “cautiously optimistic” about the upcoming year.
ATI sees 2016 profit up 8% on record volumes
ATI said Batangas Port handled over 200,000 completely-built units last year, over 42% up from previously and its highest ever annual vehicle throughput.
Smaller Philippines terminal operator Asian Terminals (ATI) said net profit rose 8% to PHP1.91bn ($38.0m) last year, up from PHP1.77bn in 2015, driven by record volumes at its ports.
International box cargo revenue from MSH went up 18.2%, while turnover at Batangas Port, which handles mainly auto exports, expanded 16%.
The higher volumes led to higher revenues, which climbed 13.5% to PHP9.25bn on the back of robust international container cargoes at MSH and Batangas Container Terminal (BCT), as well roll-on/roll-off cargoes at the Batangas Port.
Manila South Harbor (MSH) handled 19% more international containers last year, as it broke through the 1m teu mark for the first time in 30 years, local reports said.
collected by :Victor Alphen