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Briscoe Group Limited: 1 director bought
A director at Briscoe Group Limited bought 200,000 shares at 3.100NZD and the significance rating of the trade was 80/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years...
- Johannes Faul
Morningstar | Briscoe Group's Result Meets Expectations; NZD 3.65 FVE ...
No-moat-rated Briscoe Group reported net profit after tax of NZD 63.4 million for fiscal 2019, in line with management’s guidance provided in early February 2019, as well as our NZD 63.0 million estimate. The New Zealand retailer finished fiscal 2019 with previously announced full-year revenue of NZD 632 million, 4% higher than the prior year. A full-year dividend of NZD 20 cents was declared, representing a 70% payout ratio--also in line with our estimate. At the current price, shares are sli...
- Johannes Faul
Morningstar | Briscoe Group's Result Meets Expectations; NZD 3.65 FVE ...
No-moat-rated Briscoe Group reported net profit after tax of NZD 63.4 million for fiscal 2019, in line with management’s guidance provided in early February 2019, as well as our NZD 63.0 million estimate. The New Zealand retailer finished fiscal 2019 with previously announced full-year revenue of NZD 632 million, 4% higher than the prior year. A full-year dividend of NZD 20 cents was declared, representing a 70% payout ratio--also in line with our estimate. At the current price, shares are sli...
- Johannes Faul
Briscoe Group's Result Meets Expectations; NZD 3.65 FVE Unchanged
No-moat-rated Briscoe Group reported net profit after tax of NZD 63.4 million for fiscal 2019, in line with management’s guidance provided in early February 2019, as well as our NZD 63.0 million estimate. The New Zealand retailer finished fiscal 2019 with previously announced full-year revenue of NZD 632 million, 4% higher than the prior year. A full-year dividend of NZD 20 cents was declared, representing a 70% payout ratio--also in line with our estimate. At the current price, shares are sli...
- Johannes Faul
Morningstar | Briscoe Group's 4Q Sales Mark Strong End to Fiscal 2019;...
We reaffirm our NZD 3.65 fair value estimate for no-moat-rated Briscoe Group following accelerated sales growth in the fourth quarter. Revenue grew strongly, increasing 5.8%, up from 3.8% in the third quarter. The New Zealand retailer finished fiscal 2019 with full-year revenue of NZD 632 million, slightly ahead of our forecast of NZD 627 million and 4.4% higher than the prior year. Briscoe's guided to fiscal 2019 net profit after tax, or NPAT, of NZD 63 million, broadly in line with our prior N...
- Johannes Faul
Morningstar | Briscoe Group's 4Q Sales Mark Strong End to Fiscal 2019;...
We reaffirm our NZD 3.65 fair value estimate for no-moat-rated Briscoe Group following accelerated sales growth in the fourth quarter. Revenue grew strongly, increasing 5.8%, up from 3.8% in the third quarter. The New Zealand retailer finished fiscal 2019 with full-year revenue of NZD 632 million, slightly ahead of our forecast of NZD 627 million and 4.4% higher than the prior year. Briscoe's guided to fiscal 2019 net profit after tax, or NPAT, of NZD 63 million, broadly in line with our prior N...
- Johannes Faul
Briscoe Group's 4Q Sales Mark Strong End to Fiscal 2019; NZD 3.65 FVE ...
We reaffirm our NZD 3.65 fair value estimate for no-moat-rated Briscoe Group following accelerated sales growth in the fourth quarter. Revenue grew strongly, increasing 5.8%, up from 3.8% in the third quarter. The New Zealand retailer finished fiscal 2019 with full-year revenue of NZD 632 million, slightly ahead of our forecast of NZD 627 million and 4.4% higher than the prior year. Briscoe's guided to fiscal 2019 net profit after tax, or NPAT, of NZD 63 million, broadly in line with our prior N...
- Johannes Faul
Briscoe Group Shines in a Challenging Trading Environment
We maintain our NZD 3.65 fair value estimate on no-moat rated Briscoe Group despite lower-than-expected Sporting Goods sales in the third quarter of fiscal 2019. We anticipated a stronger rebound in the third quarter after a challenging second quarter cycled the British & Irish Lions rugby tour in the previous corresponding period. We cut our full-year sales growth estimate to 3.5% from 6.0% but maintain our long-term estimates with average growth in sporting goods of 4% over the next five y...
- Johannes Faul
Morningstar | Briscoe Protects GP Margins but Sporting Goods Sales Wea...
We maintain our NZD 3.65 fair value estimate on no-moat rated Briscoe Group despite lower-than-expected Sporting Goods sales in the third quarter of fiscal 2019. We anticipated a stronger rebound in the third quarter after a challenging second quarter cycled the British & Irish Lions rugby tour in the previous corresponding period. We cut our full-year sales growth estimate to 3.5% from 6.0% but maintain our long-term estimates with average growth in sporting goods of 4% over the next five years...
- Johannes Faul
Briscoe Protects GP Margins but Sporting Goods Sales Weaker Than Expec...
We maintain our NZD 3.65 fair value estimate on no-moat rated Briscoe Group despite lower-than-expected Sporting Goods sales in the third quarter of fiscal 2019. We anticipated a stronger rebound in the third quarter after a challenging second quarter cycled the British & Irish Lions rugby tour in the previous corresponding period. We cut our full-year sales growth estimate to 3.5% from 6.0% but maintain our long-term estimates with average growth in sporting goods of 4% over the next five y...
- Johannes Faul
Morningstar | No Surprises in Briscoe's First-Half Results; FVE Unchan...
There were no surprises in no-moat-rated Briscoe Group's first half results, thanks to good quarterly disclosure. Group sales of NZD 293 million, already released in early August, rose 4.3% on the prior corresponding period, or PCP. Net profit after tax, or NPAT, of NZD 29 million was 2.7% higher than the PCP, slightly trailing our full-year fiscal 2019 forecast of 3.6% growth. Despite tough trading conditions, Briscoe managed growth across both the homeware and sporting goods segments, and we a...
- Johannes Faul
Morningstar | No Surprises in Briscoe's First-Half Results; FVE Unchan...
There were no surprises in no-moat-rated Briscoe Group's first half results, thanks to good quarterly disclosure. Group sales of NZD 293 million, already released in early August, rose 4.3% on the prior corresponding period, or PCP. Net profit after tax, or NPAT, of NZD 29 million was 2.7% higher than the PCP, slightly trailing our full-year fiscal 2019 forecast of 3.6% growth. Despite tough trading conditions, Briscoe managed growth across both the homeware and sporting goods segments, and we a...
- Johannes Faul
No Surprises in Briscoe's First-Half Results; FVE Unchanged
There were no surprises in no-moat-rated Briscoe Group's first half results, thanks to good quarterly disclosure. Group sales of NZD 293 million, already released in early August, rose 4.3% on the prior corresponding period, or PCP. Net profit after tax, or NPAT, of NZD 29 million was 2.7% higher than the PCP, slightly trailing our full-year fiscal 2019 forecast of 3.6% growth. Despite tough trading conditions, Briscoe managed growth across both the homeware and sporting goods segments, and we a...
- Johannes Faul
No Surprises in Briscoe's First-Half Results; FVE Unchanged
There were no surprises in no-moat-rated Briscoe Group's first half results, thanks to good quarterly disclosure. Group sales of NZD 293 million, already released in early August, rose 4.3% on the prior corresponding period, or PCP. Net profit after tax, or NPAT, of NZD 29 million was 2.7% higher than the PCP, slightly trailing our full-year fiscal 2019 forecast of 3.6% growth. Despite tough trading conditions, Briscoe managed growth across both the homeware and sporting goods segments, and we a...
- Johannes Faul
Morningstar | Briscoe Group’s Sales Tracking With Our Forecast; FVE ...
We maintain our NZD 3.65 fair value estimate following no-moat-rated Briscoe Group’s sales results for the quarter ended July 29, 2018, with shares currently screening as fairly priced. The group’s sales growth picked up in the second quarter, with sales growth of 5.0%, the strongest seen in five quarters. In the first half of fiscal 2019, group sales increased by 4.3%, tracking with our unchanged full-year estimate of 4.9%. Gross margins improved on first-half fiscal 2018, despite intense c...
- Johannes Faul
Briscoe Group’s Sales Tracking With Our Forecast; FVE Unchanged at N...
We maintain our NZD 3.65 fair value estimate following no-moat-rated Briscoe Group’s sales results for the quarter ended July 29, 2018, with shares currently screening as fairly priced. The group’s sales growth picked up in the second quarter, with sales growth of 5.0%, the strongest seen in five quarters. In the first half of fiscal 2019, group sales increased by 4.3%, tracking with our unchanged full-year estimate of 4.9%. Gross margins improved on first-half fiscal 2018, despite intense c...
- Johannes Faul
Briscoe Group’s Homeware Headaches Dampen Sporting Success
We maintain our NZD 3.65 fair value estimate following no-moat-rated Briscoe Group’s sales results for the quarter ended April 29, 2018. While first-quarter sales in sporting goods continue to impress and track our full-year estimate, we have lowered our full-year expectation for the Homeware segment following disappointing revenue growth to date. We now forecast fiscal 2019 sales of NZD 633 million, down from our previous estimate of NZD 644 million. First-quarter sales growth of 3.6% on the ...
- Johannes Faul
Internal efficiency is key for Briscoe Group.
No-moat-rated Briscoe Group reported net profit after tax of NZD 61.3 million for fiscal 2018, in line with management’s guidance provided in early February 2018, as well as our estimate. We increase our fair value estimate by 4% to NZD 3.65 per share, primarily due to adjusting for the time value of money. Shares are trading close to our intrinsic valuation at current prices. We maintain our sales estimates for the coming decade at a CAGR of 4%. This implies that Briscoe Group increases sales...
- Johannes Faul
Briscoe Group Closes Out Fiscal 2018 With a Strong 4Q
We reiterate our NZD 3.50 fair value estimate for no-moat-rated Briscoe Group Holdings following fourth-quarter sales to Jan. 28. The New Zealand retailer finished fiscal 2018 3.5% higher than 2017, with full-year revenue of NZD 603 million slightly trailing our forecast of NZD 610 million. The company increased sales across both its homewares and sporting goods segments, buoyed by online growth of more than 30%. Closing at NZD 3.50, shares in Briscoe are trading at a level we consider fairly va...
- Johannes Faul
Internal efficiency is key for Briscoe Group.
Briscoe Group’s headline sales growth was 2.7% in the third quarter of fiscal 2018. The month of September was adversely impacted by the New Zealand general election, a slowing housing market, and unseasonal weather. However, the group experienced very strong sales growth during October, gathering momentum heading into the crucial fourth quarter. We forecast a strong finish to the year, as we expect management to sacrifice gross margin to keep the positive sales momentum going. Our full-year e...
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