Half Year Results to 30 July 2023

Results announcement





Results for announcement to the market
Name of issuer BRISCOE GROUP LIMITED
Reporting Period Half-Year - 30 January 2023 to 30 July 2023
Previous Reporting Period Half-Year - 31 January 2022 to 31 July 2022
Currency New Zealand Dollars
Amount (000s) Percentage change
Revenue from continuing operations $369,237 +0.35%
Total Revenue $369,237 +0.35%
Net profit/(loss) from continuing
operations
$ 42,750 -6.29%
Total net profit/(loss) $ 42,750 -6.29%
Interim Dividend
Amount per Quoted Equity Security $ 0.12500000
Imputed amount per Quoted Equity
Security
$ 0.04861111
Record Date 20 September 2023
Dividend Payment Date 11 October 2023
Current period Prior comparable period
Net tangible assets per Quoted Equity
Security
$ 1.3900 $1.3270
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

13/09/2023

Unaudited interim financial statements accompany this announcement.

---

Briscoe Group Posts Record Half Year Sales

Briscoe Group Limited (NZX/ASX code: BGP)

The directors of Briscoe Group Limited (NZX/ASX code: BGP) announce a net profit after
tax (NPAT) of $42.75 million for the half-year ended 30 July 2023 compared to $45.62
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 a very
solid performance considering the continued headwinds faced by the retail sector and to
post record sales for the half is a significant achievement. The ability of the leadership
team to positively drive the business despite the enduring negative economic factors is
impressive and reassuring for the entire Group.”

The directors have resolved to pay an interim dividend of 12.50 cents per share (cps). This
compares to last year’s interim dividend of 12.00 cps. Books will close to determine
entitlements at 5pm on 20 September 2023 and payment will be made on 11 October
2023. 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 of $42.75 million in this
economic environment is very pleasing. The team have done a great job in continuing to
advance initiatives important for future growth while, at the same time, maintaining focus
on the “business-as-usual” imperatives of driving sales and controlling costs.”

The earnings were generated on sales revenue of $369.24 million, an increase of 0.35%
on the same period last year. Rod Duke said, “Whilst only a modest increase, to deliver
positive sales across both the homeware and sporting goods segments in this current
environment, is a significant achievement. It’s also worth noting that this half-year result
represents an increase of 51% on the NPAT produced for the half-year immediately before
Covid (July 2019; $28.27 million) on 22% (+$66 million) higher sales.”

Gross margin percentage declined for the period from 45.64% to 43.73%. Rod Duke said,
“Like all retailers we are facing margin pressure from a number of factors as the impacts of
the ongoing economic downturn are felt. As previously reported, our goal for the full year
remains to be able to show that the Group can protect around half of the 633-basis gross
profit margin points gained during the 2 years ended January 2021 and January 2022. With
the plans we have in place we do not expect the same amount of decline for the second
half of this financial year as was experienced for the first half.

“We were pleased earlier this year to be able to repeat last year’s wage rate increase for
our in-store hourly-paid team of 7.0%. We are very mindful of the impact on all our team
from the declining economic factors in an employment market which continues to be very
competitive. The effort and commitment demonstrated by the entire team is truly
outstanding and greatly appreciated.”

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

Interest income booked by the Group increased by $2.0 million, predominantly as a result
of significantly increased interest rates.

Homeware sales for this first half increased in relation to last year by 0.28% from $228.74
million to $229.39 million and sporting goods sales by 0.46% from $139.21 million to
$139.85 million.

The Group’s online business continues to perform well and represented 18.33% of Group
sales as at 30 July 2023. Rod Duke said, “We continue to invest in both the front and back-
end platforms with a number of initiatives completed including; implementation of a new
product information system, introduction of enhanced online buying guides connected
through QR codes for instore customers, improved experience of the reviews platform and
integration of the ‘Starshipit’ shipping platform to improve both courier and fulfilment
productivity efficiency.”

Inventory levels as at 30 July 2023 were $120.21 million, up from $113.00 million at the
same time last year. Rod Duke said, “While this includes inventory for the new Rebel Sport
store opened by the Group in April 2023 as well as additional inventory purchased in
relation to major sporting events during 2023, the majority of the increase reflects
significant supply chain cost increases – the actual increase in units held was less than
1%. We continue to work closely with our supply partners in relation to optimising the
Group’s inventory position.”

The Group’s balance sheet remains strong with cash balances of $126.90 million at the
close of the period, compared to $97.58 million held at the same time last year.
Approximately $18 million of creditor payments included in the trade payables balance
were subsequently paid on 31 July 2023.

Despite the difficult trading conditions, the Group progressed a number of store
development projects during this first half. Rod Duke said, “We were delighted to open a
brand-new Rebel Sport store in Ashburton during April in conjunction with the relocation of
the existing Briscoes Homeware store. Both stores have been received extremely well
within the local catchment and we are very pleased with how they are trading. In addition,
three full-store refurbishments were completed during the period at; Briscoes Homeware
Whangarei, Rebel Sport Taupo and Rebel Sport Manukau. There are at least another three
store refurbishments planned for the second half of the year.

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).

“A number of other projects also continue to grow and benefit the Group’s profitability.
A great example of this is the ongoing introduction of new products online which are
shipped direct from suppliers. Sales continue to build from this initiative from which we
expect sales to exceed $10 million this year and we’re excited about the future opportunity
from the momentum it’s generating.

“Opportunities to expand product and category ranges are also emerging in the current
tightening market and we are extremely pleased to have secured a number of new market-
leading, quality brands for the Group. Varying product ranges from Dyson, Samsung and
Ecoya will be available from Briscoes Homeware by the end of the year. During the first
half we also successfully launched the Huffer brand into eleven Rebel Sport stores and we
plan to continue the rollout during the second half.

“Leveraging retail media across the in-store network and online platform is another
opportunity for the Group to grow revenue. During the first half we successfully deployed
digital marketing screens across all Briscoes Homeware and Rebel Sport stores. This
initiative provides existing and new supply partners with the opportunity to showcase a
range of product communications direct to our customers. This approach also
encompasses our online channel where we see great opportunity to enhance value across
our customer database and also web traffic.

“We remain cautious as to the retail environment with ongoing uncertainty in relation to
economic conditions, customer sentiment, cost pressures, higher interest rates and political
uncertainty given the upcoming election. As previously reported, we expect it to be difficult
for the Group to replicate last year’s full-year record net profit after tax (NPAT) result of
$88.4 million. However, this first-half performance against the widely reported retail slow-
down gives me great confidence about our ability to produce a solid second half result.”

The Group’s next planned market release will be shortly after its 3
rd
quarter which closes
on 29 October 2023.

Wednesday 13 September 2023
Contact for enquiries:

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

---

To the shareholders of Briscoe Group Limited
Report on the consolidated interim financial statements
Our conclusion
Briscoe Group Limited (the Company) and its controlled entities (the Group), which comprise the
consolidated balance sheet as at 30 July 2023, 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 notes to the
financial statements, which include 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 interim financial statements of the Group do not present fairly, in all material respects,
the financial position of the Group as at 30 July 2023, and its financial performance and cash flows for
the 26 week period then ended, in accordance with International Accounting Standard 34Interim
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 ies for
the review of the interim financial statementssection 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 theinterimfinancial 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.
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
identify in an audit. Accordingly, we do not express an audit opinion on these interim financial
statements.
PricewaterhouseCoopers, PwC Tower, 15 Customs Street West, Private Bag 92162, Auckland 1142 New Zealand T:
+64 9 355 8000, www.pwc.co.nz

PwC
Who we report to
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 au
Senaratne (Indy Sena).
For and on behalf of:
Chartered AccountantsAuckland
12 September 2023

---

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 20/09/2023
Ex-Date (one business day before
the Record Date)
19/09/2023
Payment date (and allotment date for
DRP)
11/10/2023
Total monies associated with the
distribution
1

$ 27,845,722.25000000
Source of distribution (for example,
retained earnings)
Retained Earnings
Currency NZD
Section 2: Distribution amounts per financial product
Gross distribution
2
$0.17361111
Gross taxable amount
3
$0.17361111
Total cash distribution
4
$0.12500000
Excluded amount (applicable to listed
PIEs)
$-
Supplementary distribution amount $0.02205882
Section 3: Imputation credits and Resident Withholding Tax
5

Is the distribution imputed Fully imputed X
Partial imputation
No imputation
If fully or partially imputed, please
state imputation rate as % applied
6

28%

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.

Imputation tax credits per financial
product
$0.04861111
Resident Withholding Tax per
financial product
$0.00868056
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

13/09/2023





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 30 July 2023

Contents
3.Highlights
4.Sales
5.Gross Profit Margin %
6.Net Profit After Tax
7.Online Share of Sales
8.Team
9.Instore Highlights
10.Online Experience
11.Supply Chain
12.Sustainability
13.Strategic Programme
14.Looking Forward
15.Financial Summary
16.Global Brand Portfolio

RECORD HA LF YEA R SA LES
●Group sales +0.35% to $369.2m
●Homeware sales +0.28% to $229.4m
●Sporting Goods sales +0.46% to $139.8m
SOLID ON LIN EP ERFORM A N CE
●Online sales 18.33% of total Group sales
●Customer membership size and
engagementat record level
●New front-end features
●Back-end system development
GROSS P ROFIT P ERFORM A N C E
●GrossProfit margin 43.73% -down from 45.64%
●Impacts ofeconomic downturn evident
●Goal is to protect around half of the 633
basispoints gained during the years ended
January2021 and January 2022
STRA TEGIC IN ITIA TIVE S
EN HA N CE BOTTOM-LIN E
●Direct to customer channel growth ahead of
expectations
●Record level of Customer Net Promotor Scores
both instore and online
●Online order picking efficiencies now driving
productivity
N P A T P ERFORM A N C E
●HY NPAT $42.7m
●Strong result in tough trading conditions
STRON G BA LA N CE SHEET
●Net cash at period end $126.9m
●Increased inventories from additional
store and increased product costs
●Continued investment in store network
refurbishment programme
●Interim dividend increased to 12.5 cents
per share to be paid11 October 2023
TEAM
●Team engagement increase year on year
●The retail management team are well
progressed through our leadership
programme
Highlights
Half Year ended 30 July 2023
3.

Sales
Continued Sales growthin a verychallengingretail
environment.
Positive sales growth across both Homeware
and Sporting Goods
4.
PERCENTAGE GROWTH
SALES GROWTH BY SEGMENT

•Margin pressure froma
number offactors as the
impacts of theeconomic
downturn are felt
•Goal for the full year remains
toprotect around half of the
633 basispoints gained
during the 2 yearsended
January 2021 and January
2022
Gross Profit Margin %
5.

•Continued solid NPAT performancedespite
difficult tradingenvironment
•Ongoing focus on robust costcontrol
•Although it will be difficult toreplicate last year's
record NPAT,this first half performance
givesconfidence for a solid second halfresult
Net Profit After Tax
(NPAT)
6.

•Strong online user experience
•Online sales mix stabilising
•Continued investment in online
developments protecting lockdown
increases
Online Share of Sales
7.

+0.3
Our Employee Engagement tool, Peakon, demonstrates
we are performing well in terms of inclusiveness with a
score that is 0.3 ahead of the benchmark score for
platform users.
Team
SCHOLARSHIPS
TEAM ENGAGEMENT
LEADERSHIP
PROGRAMMES
70%
Approximately two thirds of our retail management team
have taken part in our leadership programme and 70%
participated in modules from our management
development series. These are important contributors to
team members’ career progression.
<1.0%
FAIR
REMUNERATION
Our analysis demonstrates less than 1% variation in pay
across our retail management team when assessed solely
on the basis of gender. More than 50% of our retail
leadership team identify as ‘female’ and we continue to
drive gender diversity throughout all areas of our business.
7%
Recognising economic pressuresaffect both our
customers and our team, we repeated 2022’s increase of
7.0% on wage rates provided to our team on the frontline
in our stores and distribution centre with a further
increase of 7.0% on wage rates from the end of April 2023.
WAGE INCREASES
1.91
WORKPLACE SAFETY
Our Total Recordable Injury Frequency Rate (TRIFR)
measured on a rolling 12-month basis reduced by 1.91
points over the first half of the financial year.
8
Work is underway to identify the best ways to support or
enhance team members' wellbeing based on feedback
from the 8 focus groups we have conducted. Particular
emphasis is being placed on mental health and financial
wellbeing.
HEALTH &WELLBEING
8.
Our focus on investingin our
people, systems andprocesses
enabled us toincrease team
membercapabilities, competence
andconfidence. Our team is
wellpositioned as we head
intothe second half of the year.

Instore Highlights
3 S TORES COMPREHENS I VELY REFURB I S HED
●Briscoes Homeware Whangārei – full renovation with
polished concrete floors, LED lighting, new concept
fixtures and counters
●Rebel Sport Taupō -refit completed which included
polished flooring, modernised layout, and fixture
upgrades
●Rebel Sport Manukau -full redevelopment of the site
including new storefront, upgrade to LED lighting,
polished concrete floors,new counters, changing
rooms and basketball zone
1 S TORE RELOCATI ON
●Briscoes Homeware Ashburton has been relocated
to a brand-new premises. Bigger, brighter, and
better with more space for customers and
improved visual merchandising
1 B RAND NEW S TORE – REB EL AS HB URTON
●Rebel Sport Ashburton is our newest store in the
Group. It has been fitted out to our latest concept
including latest fixtures, spacious changing rooms,
personalised counters, and energetic lighting
MAI NTAI NED HI GH S ERVI CE LEVELS 1H
●Briscoes Homeware achieved Net Promoter Score
(NPS) of 77 which is +0.9% ahead of last year
●Rebel Sport achieved NPS of 67 which is +0.3%
ahead of last year
I MPROVED FULFI LMENT OPERATI ONS
●Integrated shipping with our order management
system, reducing complexity and speeding up the
dispatch process
●6 key fulfilment initiatives have been delivered in
the first half and a further 7 initiatives under
development to land in the second half
FI RS T HALF EFFI CI ENCI ES
●>10% improvement in online picking speed
●>5% improvement in delivery in full on time to
customer
●Reduced labour expense of over 9% through
process improvements
9.

Online Experience
10.
CONTI NUOUS RELEAS E S TRATEGY
FOR ONLI NE I MPROVEMENTS :
•Embedded a best-in-class Product
Information System (PIM)
•Optimised the experience of our reviews
platform whichhas generated a total of
82,000 reviews across our Briscoes
Homewareand Rebel Sport sites
•New post-purchase order updates,
including text to pick up, to provide a
more connected experience for
customers
•Connecting customers instore withonline
buyingguides through QR codes for
instore customers
•Implemented "Fit Analytics" –a fit finder
to help customers find their right size
forapparel on the Rebel Sport website
•New product collections functionality,
helping customers to easily shop the
whole rangefrom the product page for
key categories such as Manchester
VI P CLUB S :
•Total Group customer database now
sitting at 1,724,000
•We have an average instore sign-up
rate of 6.5%for customers who have
been shopping in our stores
•Currently 17%of our customers get
ane-receiptinstore. Thesetransactions
are now in our CRM enabling
personalised communications
•We have completed the research for
potentialloyaltyschemes
Relentless Focus

B UI LDING OUR FUTURE S UPPLY CHAI N
•The selection process for a new
Warehouse Management System (WMS) is
nowcomplete
•Implementation of WMS expected2024
•The new North Island DistributionCentre
and automation design iscomplete
•Our future Distribution Centre will support
picking of smaller quantities more
frequently forour stores and to supply
direct to customers
•Our search for the ideallocation for our
new Distribution Centre is well underway.
•By the end of 2023 we expect to have
committed to a site enabling construction
to commence in 2024
WE CONTI NUE TO DRI VE I MPROVEMENT
FROM OUR CURRENT I NFRAS TRUCTURE
•Optimised imported inventory flow into
North and South Islands, reducing inter-
island transportation
•Simplified our peak trading overflow
storage solutions increasing our capacity
and minimising management complexity
to support our peak season
•Improved inventory allocation logic to
better match stock levels in our stores to
customer sales
•Renegotiated import ocean freight
agreements realising savings in the
landed cost of directly imported goods
Supply Chain
11.

Sustainability
Our steps to a better tomorrow
12.
•Good progress made in preparing forour first
CRDdisclosure aspart of this year's annual reporting
•An active participant in the New Zealand Retail Climate
Scenariosector Group with other major retailers
facilitated by KPMG
WE HAVE MADE PROGRES S ACROSS ALL
OUR S US TAINABILITY PI LLARS
•We havesuccessfully completed a comprehensive Group
CarbonInventory reviewand are now in the process of
conducting due diligence toestablish our inaugural climate
targets
•We have enhanced our governanceframework and
sustainability policies
•Sustainability isnow a standing agenda item at every board
meeting
•Site visits and audits programmes related to store waste
management are in place, aiming to define targets and gain the
assurance needed to initiate new pilot programmes
•$415k raised for Cure Kids during the first half and on track for
another record year
•Converted 3 stores to electric forkliftsand a further 4 are
planned for the second half

CUSTOMER
Attract
Retain
Grow
F UTURE
SUP P LY
C HAI N
N E W
RE VE NUES
2023
H2 & B EY OND
•Net Promoter Score (NPS) programme
both online and instore delivering record
levels
•Instore electronic labelling live in8 stores
•Record growth in VIPClub membership
•Loyaltyscheme research complete
•Optimised North and South Island inbound
shipping split
•Design for new enhanced Distribution
Centre (DC) facility in North Island now
complete
•New allocation process live for Briscoes
Homeware
•Starshipitsystem launched
•Over 65 suppliers livewith Direct-to-
customer
•New premium global brands secured
including Dyson, Samsung and Ecoya
•Omni channel coupons launch in both
Briscoes Homeware and Rebel Sport
•Go-live with express online fulfilment &
premium delivery options
•Implement warehouse system upgrade
in existing DC site
•Select DC automation vendor
•Select location for new North Island DC
•Significant financial commitment for
multi-year transition to increasedDC
capacity
•Explore other strategic alliances for
further product category opportunities
Strategic Programme
2020-2023 approaching completion
13.

14.
•Continued solid trading performance in both
Homewares and Sporting Goods
•Excellent engagement across both team and
customers
•Store refurbishment programme on track
•New supply chain design project well advanced
•Electronic Shelf Label pilot live in 8 stores and providing
great learnings
•Strong balance sheet provides financial protection and
ability to fund strategic investments such as the new
Distribution Centreproject to step-change our supply
chain and logistics capability
•Well established strategic relationships with suppliers
•New revenues from Direct-to-Customer channel now
significant
•Strategicplan is nearing completion and delivering
ahead of expectations
•Business has a proven record of resilience in times of
economic uncertainty (GFC, COVID-19)
Looking Forward
Navigating a Challenging Retail Market

HY Jul 18HY Jul 19
1.
HY Jul 20HY Jul 21HY Jul 22HY Jul 23FY Jan 19FY Jan 20
1.
FY Jan 21FY Jan 22FY Jan 23
Homeware Revenue-$000186,701191,503184,347222,628228,739229,391403,159410,908439,234460,887487,501
Sporting Goods Revenue-$000106,499111,481108,060135,793139,207139,846228,760242,109262,563283,563298,353
Group TotalRevenue-$000293,200302,984292,407358,421367,946369,237631,919653,017701,797744,450785,854
Online Mixof Sales-%9.2%10.7%22.2%16.2%19.4%18.3%10.0%11.3%18.8%21.5%19.0%
Group Gross Margin -$000120,004122,882123,275166,663167,937161,464253,355257,502307,116340,642345,922
Group Gross Margin -%40.9%40.6%42.2%46.5%45.6%43.7%40.1%39.4%43.8%45.8%44.0%
Group EBIT -$00040,61545,65945,94873,04070,01664,21785,99597,223115,886136,468135,494
Group EBIT -%to Sales13.9%15.1%15.7%20.4%19.0%17.4%13.6%14.9%16.5%18.3%17.2%
Group NPAT -$00029,34228,34727,97947,46145,62042,75063,39362,58373,19987,90988,437
Group NPAT -%to Sales10.0%9.4%9.6%13.2%12.4%11.6%10.0%9.6%10.4%11.8%11.3%
Free CashFlow-$000 (Operating Cash Flow less
Capex)(1.9)8.237.433.238.922.2
5.
49.060.381.176.6128.0
4.
Dividends PerShare-cps8.08.59.011.512.012.520.08.5
2.
28.5
3.
27.028.0
Earnings PerShare-cps13.312.812.621.320.519.228.728.232.939.539.7
Net Debt /CashPosition-$00046.255.598.693.997.6126.9
5.
80.867.4100.4102.5149.9
4.
Inventory Turnover -Xp.a. (COGS divided by
average inventory)
4.94.74.43.83.7
1.NZ IFRS 16 Leases first year of adoption
2.Final dividend of 12.5cps cancelled as a result of Covid-19 pandemic
3. Includes special dividend of 6cps
Financial Summary
4. Excludes $26 million of creditor payments made on 31 January 2023
5. Excludes $18 million of creditor payments made on 31 July 2023
15.

Global Brand Portfolio
16.