Half Year Results to 31 July 2022

Results announcement





Results for announcement to the market
Name of issuer BRISCOE GROUP LIMITED
Reporting Period Half-Year - 31 January 2022 to 31 July 2022
Previous Reporting Period Half-Year - 1 February 2021 to 1 August 2021
Currency New Zealand Dollars
Amount (000s) Percentage change
Revenue from continuing operations $367,946 +2.7%
Total Revenue $367,946 +2.7%
Net profit/(loss) from continuing
operations
$ 45,620 -3.9%
Total net profit/(loss) $ 45,620 -3.9%
Interim Dividend
Amount per Quoted Equity Security $ 0.12000000
Imputed amount per Quoted Equity
Security
$ 0.04666667
Record Date 21 September 2022
Dividend Payment Date 12 October 2022
Current period Prior comparable period
Net tangible assets per Quoted Equity
Security
$ 1.3270 $1.2610
A brief explanation of any of the figures
above necessary to enable the figures
to be understood
Refer to the section below “Half Year Review” for commentary.
Earnings before interest and tax (EBIT) is a non-GAAP measure.

Authority for this announcement
Name of person

authorised to make this
announcement
Geoff Scowcroft
Contact person for this announcement Rod Duke
Contact phone number + 64 9 815 3737
Contact email address rod.duke@briscoegroup.co.nz
Date of release through MAP

14/09/2022

Unaudited interim financial statements accompany this announcement.

---

Briscoe Group Half Year to 31 July 2022

Briscoe Group Limited (NZX/ASX code: BGP)

Highlights for the 26-week period – 31 January 2022 to 31 July 2022:
• Total sales $367.95 million, +2.66%
• Online sales as mix of total Group sales, 19.36%
• Online sales growth +22.93%
• Gross profit % 45.64% vs 46.50% last year
• Net profit after tax (NPAT) $45.62 million, -3.88%
• Interim Dividend 12.00 cps increased from 11.50 cps last year

The directors of Briscoe Group Limited (NZX/ASX code: BGP) announce a net profit
after tax (NPAT) of $45.62 million for the half-year ended 31 July 2022 compared to
$47.46 million achieved for last year’s first half. The half-year results are unaudited.

Dame Rosanne Meo, Briscoe Group Chair said, “This half-year result represents an
outstanding performance considering the significant headwinds faced by the retail
sector. The agility and resolve shown by the leadership team in the face of these
challenges has been impressive not only with the result that has been produced but also
in relation to the support and care provided across the entire Briscoe Group team.”

The directors have resolved to pay an interim dividend of 12.00 cents per share (cps).
This compares to last year’s interim dividend of 11.50 cps. Books will close to determine
entitlements at 5pm on 21 September 2022 and payment will be made on 12 October
2022. The company’s dividend policy is to pay out at least 60% of NPAT when
calculated on a full year basis.

Rod Duke, Group Managing Director, said, “To produce an NPAT only slightly below the
record first half profit reported last year is very pleasing considering the impact on
shopping centre foot traffic early in the half from the Omicron outbreak and then the
more recent decline in economic sentiment and a second Omicron wave.

“In addition, to be less than 1 percentage point under last year’s half year gross profit
margin percentage is an excellent result, however there is still more to do as the
pressure on margin continues to intensify.

“We have previously flagged that the way profit falls this year between the first and
second halves may be quite different to last year given the significant impacts and
timings associated with supply chain disruptions, team availability and the significant
number of trading days lost through store closures between August and November
2021.”

The earnings were generated on sales revenue of $367.95 million, an increase of 2.66%
on the same period last year. Rod Duke said, “To deliver positive sales in this current
environment and against such a strong prior year comparative is a great achievement.
It’s also worth noting that this first half represents an increase of 21.44% over the most
recent comparable period not impacted by Covid, Feb 2019 - July 2019.”

Gross margin dollars increased slightly for the period from $166.66 million to $167.94
million, with gross margin percentage declining from 46.50% to 45.64%. Rod Duke said,
“Like all retailers we are facing margin pressure from a number of factors including
ongoing supply chain disruption and cost increases, a weaker New Zealand dollar and
declining consumer confidence on the back of significant cost of living increases. There

has been a considerable amount of energy dedicated to ensuring that a large portion of
the significant gross profit margin gain (633 basis points) made by the Group across the
last 2 full-year financial periods, is protected. This has involved initiatives in conjunction
with KPMG in relation to our inventory ordering processes - optimising how, when, and
what we purchase, as well as improving other inventory measures such as in-store
availability, slow moving items and stock obsolescence. This work is ongoing and
complements other in-house projects driving increased sales and margin, such as drop-
ship (delivery direct from supplier) and customer segmentation.

“Every day the entire Briscoe Group team produces incredible results for us, and we
were pleased to be able to increase the wage rates for our in-store hourly-paid team by
7.0% from April 2022. We are very mindful of the impact on all our team from the current
public health situation as well as from declining economic factors in an employment
market which is clearly under significant pressure. We continue to provide support in the
form of paid leave for Covid-related absences, over-and-above existing entitlements.”

The Group received a dividend of $1.44 million from its investment in KMD Brands
Limited during the six months compared to $0.96 million for the same period last year.

Homeware sales for this first half increased in relation to last year by 2.74% from
$222.63 million to $228.74 million and sporting goods sales by 2.51% from $135.79
million to $139.21 million.

The Group’s online business continues to surpass expectations and performed
exceedingly well during the period. Rod Duke said. “With the escalation of Omicron early
in the period and its impact on foot traffic to bricks and mortar stores, our online platform
offered a viable and seamless alternative for our customers. Online sales grew 22.93%
over the first half of last year and represented 19.36% of total Group sales.

“We continue to invest in developing our online platform. During the period the team
introduced a range of new front-end features including the ability to shop product
collections, improved mobile navigation, enhanced product content as well as
streamlining email communications with our database customers. We believe we have
one of the best in-store online fulfilment systems in New Zealand and during the period
we introduced fulfilment routing and reporting enhancements resulting in efficiency
gains, lower freight costs and improved speed to customer.”

Inventory levels as at 31 July 2022 were $113.00 million, up from $101.09 million at the
same time last year. Rod Duke said, “While this includes inventory for the two additional
stores opened by the Group in November 2021, the majority of the increase reflects
opportunities identified as part of our inventory initiatives as well as our approach to
secure inventory in advance of traditional timings given the continued possibility for
delays from ongoing supply chain disruption. With inventories continuing to close higher
than in recent years, we’re in great shape for the second half.”

The Group’s balance sheet remains strong with cash balances of $97.58 million at the
close of the period, compared to $93.93 million held at the same time last year.

Despite the difficult trading conditions and constraints in relation to team availability the
Group progressed a significant number of store development projects during this first
half. Five full-store refurbishments were completed during the period at; Briscoes
Homeware Salisbury Street in Christchurch, Briscoes Homeware Albany, Rebel Sport
Tauranga and at both Briscoes Homeware and Rebel Sport stores in Botany. These
store upgrades result in a dramatic difference to the look and feel of the stores and
include the latest ideas from the new-store design concepts. LED lighting, redesigned
fixtures, personalised counters, click & collect storage zones and dramatic new in-store
signage are examples of how these stores have been transformed. Rod Duke said,

Briscoe Group Limited is a company incorporated in New Zealand and registered in Australia as a foreign company under the name
Briscoe Group Australasia Limited (ARBN 619 060 552). It is listed on the NZX and also the Australian Securities Exchange as a
foreign exempt entity. (NZX/ASX code: BGP).
“We’re very excited about the impact achieved from the upgrades with at least another 5
planned for the second half of this year in addition to the 2 stores currently undergoing
upgrades.

“Significant progress has also been made on a number of our strategic initiatives
launched during 2020. Benefits from the supply chain projects are contributing to sales,
gross profit and the Group’s bottom line.

“A number of other initiatives also continue to grow and benefit the Group’s profitability.
Examples of these include; the ongoing introduction of new products online which are
shipped direct from suppliers, continued development of our personalised database
communication tool (Emarsys), the introduction of Tableau business intelligence
dashboards throughout the Group’s network, the creation of a new on-shelf-availability
tool for use across the store network, stock processing efficiencies in-store and at our
distribution centre and e-receipts being trialed at a small group of stores.

“Whilst the Omicron outbreak appears to be stabilising within the community, the
economic outlook for the remainder of the year remains very uncertain. However, we
believe there is significant opportunity throughout the second half of the year for the
Group, especially in the third quarter which last year was heavily impacted by enforced
shutdowns from mid-August to early November.

“The August 2021 period was significantly impacted with all Group stores shut from 18
August to 7 September 2021 due to the declaration of National Alert levels 4 and 3. As a
result, August sales this year have closed more than 60% up on the same month last
year but as a more relevant comparison we also note that it represents an increase of
27.24% on the August 2019 period, that is, before any impact of Covid.

Given the solid first half performance together with the promising start we have made to
the second half of this financial year, we remain optimistic of being able to finish the year
ahead of the $87.91 million NPAT delivered last year.”

The Group’s next planned market release will be shortly after its 3
rd
quarter which closes
on 30 October 2022.

Wednesday 14 September 2022
Contact for enquiries:

Rod Duke
Group Managing Director
Tel: + 64 9 815 3737

---

Briscoe Group Limited
Financial Statements
for the 26-week period ended 31 July 2022
Authorisation for Issue
The Board of Directors authorised the issue of these Consolidated Interim Financial Statements on
13 September 2022.
Approval by Directors
The Directors are pleased to present the Consolidated Interim Financial Statements for Briscoe Group
Limited for the 26 week period ended 31 July 2022. (Comparative period is for the 26 week period ended
1 August 2021).
13 September 2022
For and on behalf of the Board of Directors

Briscoe Group Limited
Consolidated Income Statement
For the 26 week period ended 31 July 2022 (unaudited)
26 Week Period 26 Week Period
Ended 31 July 2022 Ended 1 August 2021
Notes
Sales revenue
Cost of oods sold
Gross profit
Other income
Store expenses
Administration ex enses
Earnings before interest and tax
Finance income
Finance costs
Net finance income/(costs)
Profit before income tax
Income tax ex ense
Net rofit attributable to shareholders
Unaudited
$000
367,946
200,009
167,937
1,680
(59,508)
40,093
70,016
718
7,308
(6,590)
63,426
17,806
45,620
Unaudited
$000
358,421
191,758
166,663
1,960
(54,809)
40,774
73,040
155
7,144
(6,989)
66,051
18,590
47,461
Earnings per share for profit attributable to shareholders:
Basic earnings per share (cents)
Diluted earnings per share (cents)
20.49
20.47
21.33
21.30
The above consolidated income statement should be read in conjunction with the accompanying notes.
-1-

Briscoe Group Limited
Consolidated Statement of Comprehensive Income
For the 26 week period ended 31 July 2022 (unaudited)
Net profit attributable to shareholders
Other comprehensive income:
Items that will not be subsequently reclassified to profit or loss:
Change in value of investment in equity securities
Items that may be subsequently reclassified to profit or loss:
Fair value (gain)/loss recycled to income statement
Fair value gain taken to the cashflow hedge reserve
Deferred tax on fair value gain/(loss) taken to income statement
Deferred tax on fair value ain taken to cashflow hed e reserve
Total other corn rehensive income
Total corn rehensive income attributable to shareholders
26 Week Period
Ended 31 July 2022
Unaudited
Notes $000
45,620
(12,482)
26 Week Period
Ended 1 August 2021
Unaudited
$000
47,461
3,840
(3,873)
3,490
1,084
977
12,758
32,862
2,993
446
(838)
125
6,316
53,777
The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes.
-2-

Briscoe Group Limited
Consolidated Balance Sheet
As at 31 July 2022 (unaudited)
Notes
31 July 2022
Unaudited
$000
1
August 2021
Unaudited
$000
30
January 2022
Audited
$000
ASSETS
Current assets
Cash and cash equivalents
Trade and other receivables
Inventories
Derivative financial instruments
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Right-of-use assets
Deferred tax
Investment in e uit securities
Total non-current assets
TOTAL ASSETS
LIABILITIES
Current liabilities
Trade and other payables
Lease liabilities
Taxation payable
Derivative financial instruments
Total current liabilities
Non-current liabilities
Trade and other payables
Lease liabilities
Total non-current liabilities
TOTAL LIABILITIES
NET ASSETS
EQUITY
Share capital
Cashflow hedge reserve
Equity-based remuneration reserve
Other reserves
Retained earnin s
TOTAL EQUITY
10
97,581
5,193
112,999
2,732
218,505
128,023
2,235
246,127
14,302
52,328
443,015
93,926
5,559
101,091
764
201,340
124,335
2,204
246,118
13,840
65,770
452,267
102,481
5,082
119,514
3,137
230,214
125,897
2,563
250,789
14,184
64,810
458,243
661,520
653,607
71,685
19,599
5,320
99
96,703
938
266,191
267,129
363,832
297,688
62,136
2,108
445
(35,525)
268,524
74,241
18,998
11,825
619
105,683
892
264,186
265,078
370,761
282,846
61,992
19
358
(22,083)
242,560
297,688
282,846
688,457
80,785
19,025
18,266
118,076
875
270,193
271,068
389,144
299,313
61,992
2,384
566
(23,043)
257,414
299,313
The above consolidated balance sheet should be read in conjunction with the accompanying notes.
-3-

Briscoe Group Limited
Consolidated Statement of Cash Flows
For the 26 week period ended 31 July 2022 (unaudited)
26 Week Period 26 Week Period
Ended 31 July 2022 Ended 1 August 2021
Unaudited Unaudited
Notes $000 $000
OPERATING ACTIVITIES
Cash was provided from
Receipts from customers
Rent received
Dividends received
Interest received
Insurance recove
Cash was applied to
Payments to suppliers
Payments to employees
Interest paid
Net GST paid
Income tax aid
Net cash inflows from o eratin activities
INVESTING ACTIVITIES
Cash was provided from
Proceeds from sale of ro ert , lant and e ui ment
Cash was applied to
Purchase of property, plant and equipment
Purchase of intan ible assets
Net cash outflows from investing activities
368,005
11
1,440
495
3
369,954
(217,729)
(50,391)
(7,293)
(16,647)
30,846
322,906
47,048
20
20
(7,652)
524
8,176
358,406
3
963
136
131
359,639
(227,262)
(45,277)
(7,145)
(15,231)
19,247
314,162
45,477
12
12
(11,649)
671
12,320
8,15612,308
FINANCING ACTIVITIES
Cash was provided from
Net roceeds from borrowin s
Cash was applied to
Dividends paid
Lease liabilities a ments
Net cash outflows from financin activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of period
Forei n cash balance cash flow hed e ad'ustment
CASH AND CASH EQUIVALENTS AT END OF PERIOD
11
(34,510)
9,403
43,913
43,913
(5,021)
102,481
121
(30,045)
9,563
39,608
39,608
(6,439)
100,417
52
97,581
93,926
The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.
-4-

Briscoe Group Limited
Consolidated Statement of Changes in Equity
For the 26 week period ended 31 July 2022 (unaudited)
Notes
Balance at 31 Janua 2021
Net profit attributable to shareholders for the period
Other comprehensive income:
Change in value of investment in equity securities
Net fair value ain taken throu h cashflow hed e reserve
Total comprehensive income for the period
Transactions with owners:
Dividends paid
Performance rights charged to income statement
Performance rights exercised
Deferred tax on e ui -based remuneration
Balance at 1 Au ust 2021
Net profit attributable to shareholders for the period
Other comprehensive income:
Change in value of investment in equity securities
Net fair value ain taken throu h cashflow hed e reserve
Total comprehensive income for the period
Transactions with owners:
Dividends paid
Performance rights charged to income statement
Performance rights exercised
Deferred tax on e uit -based remuneration
Balance at 30 Janua 2022
Net profit attributable to shareholders for the period
Other comprehensive income:
Change in value of investment in equity securities
Net fair value loss taken throu h cashflow hed e reserve
Total comprehensive income for the period
Transactions with owners:
Dividends paid
Performance rights charged to income statement
Performance rights exercised
Deferred tax on e uit -based remuneration
Balance at 31 Jul 2022
11
10
11
10
Share Cashflow Equity-Based
Capital Hedge Remuneration
Reserve Reserve
Unaudited Unaudited Unaudited
$000 $000 $000
Other
Reserves
Retained
Earnings
Unaudited Unaudited
$000 $000
61,839
2,457
2,476
2,476
153
61,992
61,992
144
62,136
19
2,365
2,365
2,384
276
(276)
2,108
444
84
(153)
17
358
133
75
566
107
(144)
84
445
25,923
3,840
3,840
22,083
(960)
(960)
23,043
(12,482)
(12,482)
35,525
225,144
47,461
47,461
(30,045)
242,560
40,448
40,448
(25,594)
257,414
45,620
45,620
(34,510)
268,524
Total
Equity
Unaudited
$000
259,047
47,461
3,840
2,476
53,777
(30,045)
84
17
282,846
40,448
(960)
2,365
41,853
(25,594)
133
75
299,313
45,620
(12,482)
276
32,862
(34,510)
107
84
297,688
The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.
-5

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 31 July 2022 (unaudited)
1 Reporting Entity
Briscoe Group Limited (the Company) and its subsidiaries (together the Group) is a retailer of homeware and
sporting goods. The Company is a limited liability company incorporated and domiciled in New Zealand and
is listed on the New Zealand Stock Exchange (NZX). Briscoe Group Limited is registered under the
Companies Act 1993 and is an FMC Reporting Entity under Part 7 of the Financial Markets Conduct Act
2013. The address of its registered office is 1 Taylors Road, Morningside, Auckland 1025, New Zealand. The
Company is registered in Australia as a foreign company under the name Briscoe Group Australasia Limited
and is listed on the Australian Securities Exchange as a foreign exempt entity. (NZX / ASX code: BGP).
2. Basis of Preparation of Financial Statements
These unaudited consolidated condensed interim financial statements ('interim financial statements') have
been prepared in accordance with New Zealand Generally Accepted Accounting Practice and comply with
the requirements of International Accounting Standard (IAS) 34 Interim Financial Reporting and with New
Zealand Equivalent to International Accounting Standard (NZ IAS) 34 Interim Financial Reporting and the
NZX Main Board Listing Rules. The Group is designated as a for-profit entity for financial reporting purposes.
The interim financial statements do not include all the notes of the type normally included in an annual
financial report. Accordingly, these interim financial statements should be read in conjunction with the
audited consolidated financial statements for the period ended 30 January 2022 and any public
announcements made by Briscoe Group Limited during the interim reporting period and up to the date of
these interim financial statements.
These interim financial statements are presented in New Zealand dollars, which is the Company's functional
currency and the Group's presentation currency.
The interim financial statements are in respect of the 26-week period 31 January 2022 to 31 July 2022. The
comparative period is in respect of the 26-week period 1 February 2021 to 1 August 2021 . The year-end
balance date will be 29 January 2023 and full financial statements will cover the 52-week period 31 January
2022 to 29 January 2023. The Group operates on a weekly trading and reporting cycle resulting in 52-weeks
for most years with a 53-week year occurring once every 5-6 years.
The preparation of the interim financial statements requires management to make judgements, estimates
and assumptions that affect the reported amounts in the interim financial statements. The estimates and
underlying assumptions are based on historical experience and adjusted for current market conditions and
other factors, including expectations of future events that are considered to be reasonable under the
circumstances. If outcomes within the next financial period are significant different from assumptions, this
could result in adjustments to carrying amounts of the asset or liability affected. The same judgements,
estimates and assumptions included in the notes to the financial statements for the full year period ended 30
January 2022 have been applied to these consolidated condensed interim financial statements.
3. Accounting Policies
The interim financial statements of the Group for the 26-week period ended 31 July 2022 have been
prepared using the same accounting policies and methods of computations as, and should be read in
conjunction with, the financial statements and related notes included in the Group's Annual Report for the full
year period ended 30 January 2022.
4. Seasonality
The Group's revenue and profitability follow a seasonal pattern with higher sales and net profits typically
achieved in the second half of the financial year as a result of additional sales generated during the
Christmas trading period.
-6-

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 31 July 2022 (unaudited)
5. Segment information
The Group is organised into two reportable operating segments, namely homeware and sporting goods,
reflecting the different retail sectors within which the Group operates. The parent Company is considered not
to be a reportable operating segment. Eliminations and unallocated amounts as shown below are primarily
attributable to the Company. There were no inter-segment sales in the period (2021: Nil).
Information in relation to the operations of each reportable operating segment is included below. Segment
profit represents the profit earned by each segment and is extracted from the income statements associated
with the two trading subsidiary companies, Briscoes (New Zealand) Limited and The Sports Authority Limited
(trading as Rebel Sport). Earnings before interest and tax (EBIT) is a non-GAAP measure and used to
assess the performance of the operating segments. This measure should not be viewed in isolation, nor
considered as a substitute for measures reported in accordance with NZ IFRS. This non-GAAP financial
measure may not be comparable to similarly titled amounts reported by other companies.
For the period ended 31 July 2022
INCOME STATEMENT
Total sales revenue
Gross profit
Earnings before interest and tax
Finance income
Finance costs
Net finance income / (costs)
Income tax expense
Net rofit after tax
BALANCE SHEET
Assets
Liabilities
OTHER SEGMENTAL ITEMS
Acquisitions of property, plant and equipment,
intangibles and investments
Depreciation and amortisation expense
1. Investment in equity securities
Intercompany eliminations
Other balances
Homeware Sporting Eliminations/ Total Group
goods unallocated
$000 $000 $000 $000
228,739
103,818
38,685
180
4,846
(4,666)
(9,674)
24,345
374,322
248,418
4,870
11,016
55,111
(19,249)
15814
51 676
139,207
64,119
28,565
500
2,414
(1,914)
(7,463)
19,188
235,522
128,141
3,306
5,869
2,766
38
48
(10)
(669)
2,087
51,6761
(12,727)
367,946
167,937
70,016
718
7,308
(6,590)
(17,806)
45,620
661,520
363,832
8,176
16,885
-7-

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 31 July 2022 (unaudited)
For the period ended 1 August 2021
INCOME STATEMENT
Total sales revenue
Gross profit
Earnings before interest and tax
Finance income
Finance costs
Net finance income / (costs)
Income tax expense
Net rofit after tax
BALANCE SHEET
Assets
Liabilities
OTHER SEGMENTAL ITEMS
Acquisitions of property, plant and equipment,
intangibles and investments
Depreciation and amortisation expense
1. Investment in equity securities
Intercompany eliminations
Other balances
Homeware
$000
222,628
102,800
41,447
23
4,747
(4,724)
(10,355)
26,368
377,713
255,159
10,657
10,368
68,554
(15,385)
1 904
55073
Sporting
goods
$000
135,793
63,863
29,414
128
2,336
(2,208)
(7,618)
19,588
220,821
134,069
1,663
5,842
Eliminations/
unallocated
$000
2,179
4
61
(57)
(617)
1,505
55,0731
(18,467)
Total Group
$000
358,421
166,663
73,040
155
7,144
(6,989)
(18,590)
47,461
653,607
370,761
12,320
16,210
6. Expenses
Profit before income tax includes the following specific expenses:
Depreciation of property, plant and equipment
Amortisation of software costs
Depreciation of right-of-use assets
Interest on leases
Operating lease rental expense
Wages, salaries and other short-term benefits
Equity-based remuneration
26 Week Period
Ended 31 July 2022
$000
5,171
851
10,863
7,261
144
45,146
107
26 Week Period
Ended 1 August 2021
$000
4,514
624
11,072
7,073
19
42,686
84

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 31 July 2022 (unaudited)
7. Property, plant and equipment
Acquisitions and disposals
During the 26-week period ended 31 July 2022, the Group acquired property, plant and equipment with a
total cost of $7,652,352 (2021 : $11,648,804). Property, plant and equipment with a net book value of
$355,461 (2021: $197,320) were disposed of during the 26-week period ended 31 July 2022.
8. Investment in equity securities
During 2015 and 2019 Briscoe Group Limited acquired 48,007,465 shares in KMD Brands Limited
(previously Kathmandu Holdings Limited) for a total cost of $87,853,048. This holding represented an 6.77%
ownership in KMD Brands Limited as at 31 July 2022. (2021: 6.77%).
These shares are equity investments, quoted in the active market, which the Group has elected to designate
as a financial asset at fair value through other comprehensive income (FVOCI). An adjustment was made at
period end to reflect the fair value of these shares as at 31 July 2022.^
At 31 January 2021
Additions
Chan e in value credited to other reserves
At 1 Au ust 2021
Additions
Chan e in value credited to other reserves
At 30 Janua 2022
Additions
Chan e in value credited to other reserves
At 31 Jul 2022
$000
61,930
3,840
65,770
960
64,810
12,482
52,328
1. Fair value determined to be $1.09 ($2021: $1.37) per share as per NZX closing price ofKMD Brands Limited
(previously Kathmandu Holdings Limited) as at 29 July 2022 (2021: 30 July 2021), Level 1 in fair value hierarchy.
9. Interest bearing liabilities
There were no interest bearing liabilities as at 31 July 2022 (2021: Nil). The unsecured facility with the Bank
of New Zealand for $30 million in place at the last year-end balance date of 30 January 2022, was
determined to be surplus to business requirements and was terminated on 8 June 2022.

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 31 July 2022 (unaudited)
10. Share capital
At 31 January 2021
Issue of ordinary shares during the period:
Exercise of erformance ri hts
At 1 August 2021
Issue of ordinary shares during the period:
Exercise of erformance ri hts
At 30 January 2022
Issue of ordinary shares during the period:
Vestin of erformance ri hts
At 31 Jul 2022
1. When performance rights are exercised the amount in the equity-based remuneration reserve relating to
those performance rights exercised is recognised in share capital. The amount recognised for the 89,286 shares
issued during the 26 week period ended 31 July 2022 was $143,969 ($153,376 for the 90,300 shares issued
during the 26 week period ended 1 August 2021).
Authorised Shares
No. of Shares
222,466,000
90,300
222,556,300
222,556,300
89,286
222,645,586
Share capital
$000
61,839
1531
61,992
61,992
1441
62,136
11. Dividends
Period ended Period ended Period ended Period ended
31 July 2022 1 August 2021 31 July 2022 1 August 2021
Cents er share Cents er share $000 $000
Final dividend for the period ended 30 January
2022
Final dividend for the period ended 31 January
2021
15.50
15.50
13.50
13.50
34,510
34,510
30,045
30,045
All dividends paid were fully imputed. Supplementary dividends of $234,354 (2021: $206,690) were provided to
shareholders not tax resident in New Zealand, for which the Group received a Foreign Investor Tax Credit entitlement.
On 13 September 2022 the Directors resolved to provide for an interim dividend to be paid in respect of the period
ended 29 January 2023. The dividend will be paid at the rate of 12.00 cents per share for all shares on issue as at 21
September 2022, with full imputation credits attached.
12. Fair Value measurements of financial instruments
The Group's activities expose it to a variety of financial risks, market risk (including currency and interest rate
risk), credit risk and liquidity risk. The Group's overall risk management programme seeks to minimise
potential adverse effects on the Group's financial performance. The Group uses certain derivative financial
instruments to hedge certain risk exposures.
The consolidated interim financial statements do not include all financial risk management information and
disclosures required in the annual financial statements. They should be read in conjunction with the Group's
annual financial statements for the period ending 30 January 2022. There have been no changes in the risk
management policies since year end.
Based on NZ IFRS 13 Fair Value Measurement, the fair value of each financial instrument is categorised in
its entirety based on the lowest level of input that is significant to that fair value measurement. The levels are
-10-

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 31 July 2022 (unaudited)
defined as follows:
Level 1: Quoted prices (unadjusted in active market for identical assets and liabilities);
Level 2: Inputs other than quoted prices included within level 1 that are observable for the asset or liability,
either directly (that is, as prices) or indirectly (that is, derived from prices);
Level 3: Inputs for the asset or liability, that are not based on observable market data (that is unobservable
inputs).
The financial instruments held by the Group that are measured at fair value are; over-the-counter derivatives
(foreign exchange contracts) and an investment in equity securities. The derivatives have been determined
to be within level 2 (for the purposes of NZ IFRS 13) of the fair value hierarchy as all significant inputs
required to ascertain the fair values are observable. The investment in equity securities is determined to be
within level 1 as quoted prices are available from an active equities market for identical securities. There
were no transfers behween levels 1 and 2 during the period.
There were no changes in valuation techniques during the period.
The following methods and assumptions were used to estimate the fair values for each class of financial
instrument.
Trade debtors, trade creditors, related party payables and bank balances
The carrying value of these items is equivalent to their fair value.
Derivative financial instruments
Derivative financial instruments comprise of forward foreign exchange contracts which have been fair valued
using market forward foreign exchange rates at period end.
Investment in equity securities
The investment in equity securities has been fair valued using equity prices quoted on market at period end.
The following table presents the Group's assets and liabilities that are measured at fair value at 31 July
2022:
Assets
Derivative financial instruments
Investment in e uit securities
Total Assets
Liabilities
Derivative financial instruments
Total Liabilities
As at
31 July 2022
$000
2,732
52,328
55,060
99
99
As at
1 August 2021
$000
764
65,770
66,534
619
619
As at
30 January 2022
$000
3,137
64,810
67,947
-11 -

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 31 July 2022 (unaudited)
13. Related party transactions
During the 26-week period the Company advanced and repaid loans to its subsidiaries by way of internal
transfers between current accounts. In presenting the financial statements of the Group, the effect of
transactions and balances between fellow subsidiaries and those with the Parent have been eliminated.
Material transactions between the Company and its subsidiaries were:
Management fees charged by the Company to:
Briscoes (NZ) Limited
The S orts Authorit Limited tradin as Rebel S ort
Total mana ement fees char ed
Dividends received by the Company from:
Briscoes (NZ) Limited
The S crts Authorit Limited tradin as Rebel S
Total dividends received
ort
26 Week Period
Ended 31 July 2022
$000
9,027
5,563
14,590
17,248
17,248
26 Week Period
Ended 1 August 2021
$000
8,299
5,108
13,407
15,017
15,016
34,496
30,033
In addition, the Group undertook transactions during the 26-week period with the following related parties as
detailed below:
. The R A Duke Trust, of which RA Duke is a trustee, as owner of the Rebel Sport premises at
Panmure, Auckland, received rental payments (net of rental relief) of $337,442 (2021: $337,442) from
the Group, under an agreement to lease premises to The Sports Authority Limited (trading as Rebel
Sport). The remaining non-cancellable term of this lease is 0.7 years (2021:1.7 years) with a payment
commitment of $449,923 (2021: $1,124,807).
. Kein Geld (NZ) Limited, an entity associated with RA Duke, received rental payments (net of rental
relief) of $283,637 (2021: $283,637) as owner of the Briscoes Homeware premises at Wairau Park,
Auckland, under an agreement to lease premises to Briscoes (NZ) Limited. During the half-year ended
31 July 2022 a new agreement to lease was negotiated. The remaining non-cancellable term of this
lease is 10.1 years (2021: 0.6 years) with a payment commitment of $6,546,259(2021: $330,910).
. RA Duke Trust (including RA Duke Limited) received dividends of $26,592,789 (2021: $23,161,462).
. P Duke, spouse of RA Duke, received payments of $32,500 (2021: $32,500) in relation to her
employment as an overseas buying specialist with Briscoe Group Limited and rental payments (net of
rental relief) of $472,726 (2021 : $461,196) as owner of the Briscoes Homeware premises at Panmure,
Auckland under an agreement to lease premises to Briscoes (NZ) Limited. The remaining non-
cancellable term of this lease is 8.8 years (2021: 9.8 years) with a payment commitment of $8,765,030
(2021: $9,698,952).
-12-

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 31 July 2022 (unaudited)
Directors received directors' fees and dividends in relation to their personally-held shares as detailed below
26 Week Period
Ended 31 July 2022
Executive Director
RA Duke
Non-Executive
Directors
RPO'L Meo
AD Batterton
RAB Coupe
HJMCalla han
Directors' Fees
$000
Dividends Directors' Fees
26 Week Period
Ended 1 August 2021
$000
$000
Dividends
$000
77
41
43
39
200
2
2
72
40
41
38
191
Directors received dividends in relation to their non-beneficially held shares as detailed below:
Executive Director
RA Duke
Non-Executive Directors
RPO'L Meo
AD Batterton
RAB Coupe
HJM Calla han
26 Week Period
Ended 31 July 2022
$000
26,593
16
3
26,612
26 Week Period
Ended 1 August 2021
$000
23,161
14
3
23,178
14. Contingent liabilities
There were no contingent liabilities as at 31 July 2022 (2021: Nil).
15. Climate Change related risks
As part of its risk management framework the Group continues to monitor its exposure to risk, including
climate related risk and related regulatory reporting requirements. Briscoe Group intends to review and
report on exposure to climate related risk in line with legislative requirements currently under development.
Emissions measurement systems are currently being implemented with a view to commence reporting for'
the financial year ended January 2024
-13-

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 31 July 2022 (unaudited)
16. Events after balance date
On 5 August 2022 137,842 performance rights were issued to key senior executive under the Briscoe
^ Executive Incentive Plan. The plan was established in 2019 and this is the 5>h tranche o7i
rightsto.
have
beenlss.
ljedunder
the
P!an-
The
Performance
rights
are
subject
to'two
growth'hurdre
s''i'n'
relation to absolute Total Shareholder Return and Earnings Per Share, both of which aremeasured"o'v'er a
three year period.
0^.1.3september 2,022^hed"'ectorsreso!yed to Provide for an interim dividend to be paid in respect of the
52-week penod^endJng 29 January 2023. The dividend will be paid at a rate of-12".ob'cent~sper'shareo'n'
issue as at 21 September 2022, with full imputation credits attached.
17. Accounting standards
The accounting policies applied are consistent with those of the annual financial statements for the oeric
ended 30 January 2022, as described in those annual financial statements.
There were no new standards applied during the period.
-14-

PricewaterhouseCoopers, PwC Tower, 15 Customs Street West, Private Bag 92162, Auckland 1142 New Zealand
T: +64 9 355 8000, www.pwc.co.nz

Independent auditor’s review report
To the shareholders of Briscoe Group Limited

Report on the consolidated interim financial statements
Our conclusion
We have reviewed the consolidated interim financial statements (interim financial statements) of
Briscoe Group Limited (the Company) and its controlled entities (the Group), which comprise the
consolidated balance sheet as at 31 July 2022, and the consolidated income statement, consolidated
statement of comprehensive income, the consolidated statement of changes in equity and the
consolidated statement of cash flows for the 26 week period ended on that date, and significant
accounting policies and other explanatory information.
Based on our review, nothing has come to our attention that causes us to believe that the
accompanying consolidated interim financial statements of the Group do not present fairly, in all
material respects, the financial position of the Group as at 31 July 2022, and its financial performance
and cash flows for the 26 week period then ended, in accordance with International Accounting
Standard 34 Interim Financial Reporting (IAS 34) and New Zealand Equivalent to International
Accounting Standard 34 Interim Financial Reporting (NZ IAS 34).
Basis for conclusion
We conducted our review in accordance with the New Zealand Standard on Review Engagements
2410 (Revised) Review of Financial Statements Performed by the Independent Auditor of the Entity
(NZ SRE 2410 (Revised)). Our responsibilities are further described in the Auditor’s responsibilities for
the review of the interim financial statements section of our report.
We are independent of the Group in accordance with the relevant ethical requirements in New
Zealand relating to the audit of the annual financial statements, and we have fulfilled our other ethical
responsibilities in accordance with these ethical requirements. Other than in our capacity as auditor we
have no relationship with, or interests in, the Group.
Responsibilities of Directors for the interim financial statements
The Directors of the Group are responsible on behalf of the Group for the preparation and fair
presentation of these interim financial statements in accordance with IAS 34 and NZ IAS 34 and for
such internal control as the Directors determine is necessary to enable the preparation and fair
presentation of the interim financial statements that are free from material misstatement, whether due
to fraud or error.
Auditor’s responsibilities for the review of the interim financial statements
Our responsibility is to express a conclusion on the interim financial statements based on our review.
NZ SRE 2410 (Revised) requires us to conclude whether anything has come to our attention that
causes us to believe that the interim financial statements, taken as a whole, are not prepared in all
material respects, in accordance with IAS 34 and NZ IAS 34.
A review of interim financial statements in accordance with NZ SRE 2410 (Revised) is a limited
assurance engagement. We perform procedures, primarily consisting of making enquiries, primarily of
persons responsible for financial and accounting matters, and applying analytical and other review
procedures.
The procedures performed in a review are substantially less than those performed in an audit
conducted in accordance with International Standards on Auditing and International Standards on
Auditing (New Zealand) and consequently does not enable us to obtain assurance that we might

PwC 2
identify in an audit. Accordingly, we do not express an audit opinion on these interim financial
statements.

Who we report to
This report is made solely to the Group’s Shareholders, as a body. Our review work has been
undertaken so that we might state those matters which we are required to state to them in our review
report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than the Shareholders, as a body, for our review procedures, for this
report, or for the conclusion we have formed.

The engagement partner on the review resulting in this independent auditor’s review report is Indumin
Senaratne (Indy Sena).

For and on behalf of:





Chartered Accountants Auckland
13 September 2022

---

Distribution Notice




Please note: all cash amounts in this form should be provided to 8 decimal places

Section 1: Issuer information
Name of issuer Briscoe Group Limited
Financial product name/description Ordinary Shares
NZX ticker code BGP
ISIN (If unknown, check on NZX
website)
NZBGRE0001S4
Type of distribution
(Please mark with an X in the
relevant box/es)
Full Year Quarterly
Half Year X Special
DRP applies
Record date 21/09/2022
Ex-Date (one business day before the
Record Date)
20/09/2022
Payment date (and allotment date for
DRP)
12/10/2022
Total monies associated with the
distribution
1

$ 26,717,470.32000000
Source of distribution (for example,
retained earnings)
Retained Earnings
Currency NZD
Section 2: Distribution amounts per financial product
Gross distribution
2
$0.16666667
Gross taxable amount
3
$0.16666667
Total cash distribution
4
$0.12000000
Excluded amount (applicable to listed
PIEs)
$-
Supplementary distribution amount $0.02117647
Section 3: Imputation credits and Resident Withholding Tax
5

Is the distribution imputed Fully imputed X
Partial imputation
No imputation

1
Continuous issuers should indicate that this is based on the number of units on issue at the date of the form
2
“Gross distribution” is the total cash distribution plus the amount of imputation credits, per financial product, before the deduction of
Resident Withholding Tax (RWT).
3
“Gross taxable amount” is the gross distribution minus any excluded income.
4
“Total cash distribution” is the cash distribution excluding imputation credits, per financial product, before the deduction of RWT.
This should include any excluded amounts, where applicable to listed PIEs.
5
The imputation credits plus the RWT amount is 33% of the gross taxable amount for the purposes of this form. If the distribution is
fully imputed the imputation credits will be 28% of the gross taxable amount with remaining 5% being RWT. This does not constitute
advice as to whether or not RWT needs to be withheld.

If fully or partially imputed, please
state imputation rate as % applied
6

28%
Imputation tax credits per financial
product
$0.04666667
Resident Withholding Tax per
financial product
$0.00833333
Section 4: Distribution re-investment plan (if applicable)
DRP % discount (if any)
%
Start date and end date for
determining market price for DRP

Date strike price to be announced (if
not available at this time)

Specify source of financial products to
be issued under DRP programme
(new issue or to be bought on market)

DRP strike price per financial product
$
Last date to submit a participation
notice for this distribution in
accordance with DRP participation
terms

Section 5: Authority for this announcement
Name of person

authorised to make
this announcement
Geoff Scowcroft
Contact person for this
announcement
Geoff Scowcroft
Contact phone number +64 275633167
Contact email address geoff@briscoes.co.nz
Date of release through MAP

14/09/2022





6
Calculated as (imputation credits/gross taxable amount) x 100. Fully imputed dividends will be 28% as a % rate applied.

---

Half Year
26 week period ending
31 July 2022

.
CONTENTS
Highlights
Sales
Gross profit
Net profit after tax
Onlinemix
Online experience
In-store experience
Supply chain
Team
Community
Strategic plan
Growth
Financial summary
Our brand partners
3
4
5
6
7
8
9
10
11
12
13
14
15
16
2.

RECORD HY SALES
Group sales +2.66% to $367.9m
Homeware sales +2.74% to $228.7m
Sporting goods sales +2.51% to $139.2m
STRONG ONLINE PERFORMANCE
Online sales 19.36% of total Group sales
Online sales growth +22.93%
New front-end features
Back-end system development
GROSS PROFIT PERFORMANCE
Gross Profit 45.64% -down less than 1% point
from 46.50% LY, despite pressure from higher
supply chain costs, increased costsand
weaker New Zealand dollar
Many benefits now embedded from supply
chain initiatives in relation to inventory
ordering and flow
STRATEGIC INITIATIVES
ENHANCE BOTTOM-LINE
Protection of gross profit percentage
margin through continued delivery of
supply chain initiatives
Leverage of Customer database
Continued strong Net Promoter Score
(NPS) across both segments
Highlights
Half year period ended 31 July 2022
3.
SOLID NPAT PERFORMANCE
HY NPAT $45.6m
Management optimistic for full-year to
STRONG BALANCE SHEET
Net cash at period end $97.6m
Increased inventories to meet ongoing
consumer demand to mitigate
uncertainty inglobal supply chain
Investment in store network refurbishment
programme
12.00 cents per share interim dividend to
be paid12October 2022
TEAM
Extensive use of online learning platform
Increase in team engagement scores
The Group hasdelivered a solid half year performance
despite the challenges of Omicron, disrupted supply chain
and declining economic sentiment.

.
Continued sales
growthin a
challenging retail
environment.
Continuedpositive
growth across
both segments.
Combination of
in-store and online
initiatives driving
growth.
Store refurbishment
programme underway.
Sales growth
Record Half Year Sales -$368M
4.
Sales Growth by Segment
YE Jan-18YE Jan-19YE Jan-20YE Jan-21
YE Jan-22YE Jan-23
HY
HY
HY
HYHYHYFYFYFYFYFY
-HY
-FY

.
Gross profit margin%
5.
5.
Solid Margin Performance
633 basis points gain across the
last 2 full year financial periods
Strong margin across both
Homeware and Sporting Goods
despite higher supply chain costs
and a weaker New Zealand dollar
Benefits from supply chain
initiatives evident from the less
than 100 basis points decrease in
gross profit margin percentage
+633
basis
points

.
Net profit after tax
6.
Solid NPAT performance despite
continued supply chain disruption,
wage cost pressure and
general cost increases
Management optimistic for full year
NPAT tobe ahead of last year's
record profit
6.
On Track To Beat Last Year's
Record Performance
(NPAT)
BGP
Guidance
= 88+

.
Online share of total
Group sales
7.
Continued investment in
onlinedevelopments protecting
post-lockdown step-change in
onlinemix
Online sales mix stabilising
post-lockdowns
7.
Strong Online Performance
YE Jan-18YE Jan-19YE Jan-20YE Jan-21YE Jan-22YE Jan-23
BGP Online Sales Mix %
COVID 19 LOCKDOWN
Step
change

.
Online
experience
Significant step-change in the
online experience delivered
Introduced new way to shop collections to make it
easier to buy product sets
New mobile navigation and user experience
New product page to make understanding features
easier for our customers
Introduced online NPS and a quarterly user testing
programme
Wide range of new email automations
driving frequency and rewarding VIP database
customers
8.

.
Enhancing In-store
experience
Store refurbishment performing well:
7x fully refurbished stores in 1H
Very strong customer response
+2 points NPS improvement
+5% improvement in basket size
New generation of fixtures
providing greater utilisation of
space
Customer Service improvement:
Launched new data visualisation reporting tools
and On-Shelf Availability tool to the retail
management team to improve inventory
management
Improved stock availability
Increasedfocus on fulfilment of online orders:
Market leading online fulfilment performance
72% orders dispatched same day order is
placed
3.1 days average for customers to receive
their order (93% delivered within 5 days)
95% click and collect ready same day (when
store is in stock)
784,000 orders delivered
9.
Upgraded lighting to brighter and more
efficient LED platforms:
8 stores in 1H
Another 10x stores in 2H this year

.
Supply chain continued cost pressures
Significant increase in supply chain costs in the first half vs LY:
Import shipping costs circa +48% higher
Congestion at ports and shortage of containers causing increased
leadtimeandcosts
Increased inventory holding andshortage of available space
also increased costs
Labour shortages and increasing cost of labour
First half cost of total distribution over 35% up
Forward outlook is that costs are stabilising
Longer term supply chain developments:
Network modelling now completed
Defined the increased requirements for warehouse
space in Auckland by up to 300%
Increased internal capability with appointment to
new GM Supply Chain role
Tender for larger Christchurch facilityunderway
10.

.
Investment in ourTeam
Over 6,900 hours invested through our online learning
platform with over 93,000 sessions and 1.4 million
reinforcement questions answered by the team
Team engagement score increased 13 points between
February and July surveys
Analysis of gender pay gaps across our
retailmanagement team identified less than 1%
variation
Retail Leadership team actively engaged in our
bespoke Management and Leadership programme
with 95% engagement in Management Skills building
and 44% participation in our Leadership Series
Covid Support for our team has included over $1.2
million and 50,000 hours in the last 6 months where
team members received full pay without deduction
from their sick leave balances or government
subsidy
11.

.
Community
Support for cure kidson track to
deliver a record >$1m in donations for
the full year
12.
Nearly $500k raised in first half
Second half isfully loaded with
events including:
2 In-store "add a
dollar"campaigns
24hr Cycle challenge
Charity Golf Day
Introduction of online donations

.
CUSTOMER
Attract
Retain
Grow
FUTURE
SUPPLY
CHAIN
NEW
REVENUES
20222023 & BEYOND
Online NPS program now live providing
full omni channel customer visibility
In store digital tools launched and
increasing productivity
Online order digital picking live
Enhanced size availability in Rebel Sport
Clothing and Footwear
Hybrid Online fulfilment model live
Warehouse digital picking live
Requirements for enhanced DC facility in
Auckland now complete
23 suppliers livewith Drop ship
Automated email platform generating
significant sales growth
Promotional collaboration with New World
Pilot in-store electronic labelling at 6
stores from November 2022
Implement Phase 2 of online digital
picking
Go-live with express online fulfilment &
premium delivery options
Increased North and South island
distribution capability
Implement warehouse system upgrade
Plan multi-year transition to increased
capacity DC facility in Auckland
Accelerate new store concept
refurbishment plan circa 30 stores
Launch new product categories
in-store and viadirect-to-customer
Explore other strategic alliances for
further promotional opportunities
Strategic plan on track
13.

.
Continued growth
Well positioned to continue to grow in a challenging market:
Continued strong trading performance in both Homewares and
Sporting goods
Strategic plan is delivering ahead of expectations
Strong customer engagement from customer service improvements
Ongoing refurbishment programme
Healthy inventory position will help protect from supply chain volatility
Electronic Shelf Label pilot
Strong balance sheet provides financial protection and ability to fund
strategic investment if required
New product categories including Serta Beds and outdoor bean
furniture
Business has proven record of performing well in times of economic
uncertainty (GFC, COVID-19)
14.

.
HY Jul 18 HY Jul 19 HY Jul 20 HY Jul 21 HY Jul 22 FY Jan 19 FY Jan 20 FY Jan 21 FY Jan 22FY Jan 23
1.
Homeware Revenue -$000186,701 191,503 184,347 222,628 228,739 403,159 410,908 439,234460,887
Sporting Goods Revenue -$000106,499111,481 108,060 135,793139,207 228,760 242,109 262,563283,563
Group total Revenue-$000293,200 302,984 292,407 358,421 367,946631,919 653,017 701,797744,450
Online Mixof Sales-%9.2%10.7%22.2%16.2%19.4%10.0%11.3%18.8%21.5%
Group Gross Margin -$000120,004 122,882123,275 166,663167,937 253,355 257,502307,116340,642
Group Gross Margin -%40.9%40.6%42.2%46.5%45.6%40.1%39.4%43.8%45.8%
Group EBIT -$00040,615 45,65945,948 73,04070,016 85,99597,223115,886136,468
Group EBIT -%to Sales13.9%15.1%15.7%20.4%19.0%13.6%14.9%16.5%18.3%
Group NPAT -$00029,342 28,34727,97947,46145,620 63,393 62,58373,19987,90987,909+
1.
Group NPAT -%to Sales10.0%9.4%9.6%13.2%12.4%10.0%9.6%10.4%11.8%
Free CashFlow -$000 (Operating Cash Flow less Capex)(1.9)8.237.433.238.949.060.381.176.6
Dividends PerShare -cps8.08.59.011.512.020.08.5
2
28.5
3
27.0
Earnings PerShare -cps13.312.812.621.320.528.728.232.939.5
Net Debt /Cash Position -$00046.255.598.693.997.680.867.4100.4102.5
Inventory Turnover -X p.a. (COGS divided by
average inventory)
4.94.74.43.8
1 Source: BGP Half Year results announcement 14/9/2022
2 Final dividend of 12.5cps cancelled as a result of Covid-19 pandemic
3 Includes special dividend of 6cps
Financial summary
15.

Our international brand partners
16.