Skip to main content
Annolyse
Back to companies

BGP · NZX

Briscoe Group (BGP)

Consumer / Retail generalCovered: HY22 - HY2710 published briefings

Briscoe Group is an NZX-listed consumer / retail general company. Its latest covered result is HY27, with HY22 - HY27 of source-backed result history on Annolyse.

Sections

Latest result

Latest metrics

HY27, released 16 September 2026

← Swipe to view more
BGP latest metrics
MetricValueChange
Revenue$374.2m↑ +0.8%
Operating profit$46.5m↓ -1.0%
NPAT$27.6m↓ -5.8%
Operating cash flow$7.9m↓ -67.9%
OCF / Operating profit %17.0%↓ -35.5pp
ROE %9.1%↓ -10.7pp
DPS10.0c— Flat
Payout ratio vs NPAT %80.8%↑ +4.8pp
PBT$38.7m↓ -5.6%
FCF pre-lease-$23.9m↓ -344.9%

Source: latest published briefing (HY27, released 16 September 2026). Change compares against the prior equivalent period: HY26, released 10 September 2025.

Valuation

Valuation

Trailing P/E, EV/EBITDA, price-to-book and price-to-free-cash-flow ratios combine the latest available close with filing data. They are comparative measures, not forecasts or recommendations.

Prices as at close, 18 September 2026

Price and market cap

The latest close and share count context for the market price.

Market cap

$1b

i

End-of-day close multiplied by current shares on issue.

Profitability multiples

How the market price compares with recent earnings and cash-flow inputs.

P/E

17.43x

i

Recent market cap compared with trailing earnings.

EPS

0.26

i

Recent filing-derived earnings per share.

PEG

Not available

i

Not meaningful without positive comparable earnings growth.

EV/EBITDA

Not available

i

Not available for this company right now.

P/FCF

54.97x

i

Market cap compared with recent free cash flow.

P/B

3.32x

i

Market value compared with latest reported equity.

Income and investment-company measures

Yield and investment-company valuation where supported.

Dividend yield

4.4%

i

Trailing dividends compared with the latest close.

Total return

Not available

i

Available once dividend and adjustment data are verified.

Price history

Daily closes use the full available width, with hover and touch values for each observation. Expand the chart to see more detail.

Share price

Five years of daily closes, as at close, 5 June 2026. Weekends, suspensions, and listing gaps stay as natural gaps in the time scale.

Loading chart...

P/E over time

Filing-period markers only: EOD close on or before each release date divided by filing-derived trailing NPAT where both inputs verify.

Loading chart...

Ask about BGP

Informational only. No buy, sell, hold, price-target, or personal financial advice.

Sign in to chat

Sign in to ask company questions.

What changed in the latest result?What is unusual in the historical context?How has cash conversion changed over time?Compare this company with CNU.

Checking account...

Financial history

Performance over time

The latest period is shown first.

← Swipe to view more
BGP metric history
MetricHY276 MONTHS16 September 2026FY2612 MONTHS11 March 2026HY266 MONTHS10 September 2025FY2512 MONTHS12 March 2025HY246 MONTHS11 September 2024FY2412 MONTHS13 March 2024FY2312 MONTHS15 March 2023HY236 MONTHS14 September 2022FY2212 MONTHS16 March 2022HY226 MONTHS14 September 2021Trend
Revenue$374.2m$798.8m$371.3m$791.5m$372.1m$792m$785.9m$367.9m$744.5m$358.4m
Chart
Revenue growth %0.8%0.9%0.0%Outside range low revenue growth. 0%; 4-period range 0.8% to 22.6%. Revenue growth: 0.0%, below normal range; 4-period mean 6.8%, range 0.8%-22.6%.-0.1%Outside range low revenue growth. -0.1%; 3-period range 0.8% to 6.1%. Revenue growth: -0.1%, below normal range; 3-period mean 4.2%, range 0.8%-6.1%.1.1%0.8%5.6%2.7%6.1%Outside range high revenue growth. 6.1%; 3-period range -0.1% to 5.6%. Revenue growth: 6.1%, above normal range; 3-period mean 2.1%, range -0.1%-5.6%.22.6%Unprecedented high revenue growth. 22.6%; 4-period range 0% to 2.7%. Revenue growth: 22.6%, unprecedented high; 4-period mean 1.2%, range 0.0%-2.7%.
Chart
  • FY25 Revenue growth %: Outside range low revenue growth. -0.1%; 3-period range 0.8% to 6.1%. Revenue growth: -0.1%, below normal range; 3-period mean 4.2%, range 0.8%-6.1%.
  • HY26 Revenue growth %: Outside range low revenue growth. 0%; 4-period range 0.8% to 22.6%. Revenue growth: 0.0%, below normal range; 4-period mean 6.8%, range 0.8%-22.6%.
Operating profit$46.5m$95.8m$46.9m$104.4m$60.5m$126.3m$135.5m$70m$136.5m$73m
Chart
Operating profit margin %12.4%12.0%12.6%13.2%16.3%15.9%17.2%19.0%18.3%20.4%
Chart
PBT$38.7m$82.9m$41m$95.1m$56.6m$117.3m$123.1m$63.4m$122.4m$66.1m
Chart
PBT growth %-5.6%-12.8%0.0%-18.9%Outside range low pbt growth. -18.9%; 3-period range -4.7% to 20.7%. PBT growth: -18.9%, below normal range; 3-period mean 5.5%, range -4.7%-20.7%.-10.7%Outside range low pbt growth. -10.7%; 4-period range -5.6% to 70.8%. PBT growth: -10.7%, below normal range; 4-period mean 15.3%, range -5.6%-70.8%.-4.7%0.6%-4.1%20.7%Outside range high pbt growth. 20.7%; 3-period range -18.9% to 0.6%. PBT growth: 20.7%, above normal range; 3-period mean -7.7%, range -18.9%-0.6%.70.8%Unprecedented high pbt growth. 70.8%; 4-period range -10.7% to 0%. PBT growth: 70.8%, unprecedented high; 4-period mean -5.1%, range -10.7%-0.0%.
Chart
  • HY24 PBT growth %: Outside range low pbt growth. -10.7%; 4-period range -5.6% to 70.8%. PBT growth: -10.7%, below normal range; 4-period mean 15.3%, range -5.6%-70.8%.
  • FY25 PBT growth %: Outside range low pbt growth. -18.9%; 3-period range -4.7% to 20.7%. PBT growth: -18.9%, below normal range; 3-period mean 5.5%, range -4.7%-20.7%.
NPAT$27.6m$59.2m$29.3m$60.6m$33.2m$84.2m$88.4m$45.6m$87.9m$47.5m
Chart
NPAT growth %-5.8%-2.3%0.0%-28.0%Outside range low npat growth. -28%; 3-period range -4.8% to 20.1%. NPAT growth: -28.0%, below normal range; 3-period mean 5.3%, range -4.8%-20.1%.-27.2%Outside range low npat growth. -27.2%; 4-period range -5.8% to 69.6%. NPAT growth: -27.2%, below normal range; 4-period mean 15.0%, range -5.8%-69.6%.-4.8%0.6%-4.0%20.1%Outside range high npat growth. 20.1%; 3-period range -28% to 0.6%. NPAT growth: 20.1%, above normal range; 3-period mean -10.7%, range -28.0%-0.6%.69.6%Unprecedented high npat growth. 69.6%; 4-period range -27.2% to 0%. NPAT growth: 69.6%, unprecedented high; 4-period mean -9.2%, range -27.2%-0.0%.
Chart
  • HY24 NPAT growth %: Outside range low npat growth. -27.2%; 4-period range -5.8% to 69.6%. NPAT growth: -27.2%, below normal range; 4-period mean 15.0%, range -5.8%-69.6%.
  • FY25 NPAT growth %: Outside range low npat growth. -28%; 3-period range -4.8% to 20.1%. NPAT growth: -28.0%, below normal range; 3-period mean 5.3%, range -4.8%-20.1%.
Operating cash flow$7.9m$102.4m$24.6m$109.7m$38m$123.3m$144.4m$47m$96.5m$45.5m
Chart
OCF / Operating profit %17.0%106.9%52.5%105.1%62.9%97.6%106.6%67.2%70.7%62.3%
Chart
FCF pre-lease-$23.9m$52m$9.8m$51.5m$3m$108.2m$129.1m$39.4m$76.6m$33.8m
Chart
DPS10.0c10.0c10.0c10.0c12.5c16.5c16.0c12.0c15.5c11.5c
Chart
Payout ratio vs NPAT %80.8%75.2%76.0%73.5%83.8%Outside range high payout ratio versus npat. 83.8%; 3-period range 58.6% to 80.8%. Payout ratio versus NPAT: 83.8%, above normal range; 3-period mean 71.8%, range 58.6%-80.8%.76.7%—58.6%Outside range low payout ratio versus npat. 58.6%; 3-period range 76.1% to 83.8%. Payout ratio versus NPAT: 58.6%, below normal range; 3-period mean 80.2%, range 76.1%-83.8%.68.4%—
Chart
  • HY24 Payout ratio vs NPAT %: Outside range high payout ratio versus npat. 83.8%; 3-period range 58.6% to 80.8%. Payout ratio versus NPAT: 83.8%, above normal range; 3-period mean 71.8%, range 58.6%-80.8%.
Annual payout ratio vs EPS %—75.2%—73.5%—76.7%——68.4%—
Chart
ROE %9.1%19.4%19.8%19.7%Outside range low roe. 19.7%; 3-period range 26.7% to 29.4%. ROE: 19.7%, below normal range; 3-period mean 28.3%, range 26.7%-29.4%.11.1%Outside range low roe. 11.1%; 3-period range 15.3% to 36.2%. ROE: 11.1%, below normal range; 3-period mean 23.8%, range 15.3%-36.2%.26.7%28.7%15.3%29.4%Outside range high roe. 29.4%; 3-period range 19.7% to 28.7%. ROE: 29.4%, above normal range; 3-period mean 25.0%, range 19.7%-28.7%.36.2%Outside range high roe. 36.2%; 3-period range 11.1% to 19.8%. ROE: 36.2%, above normal range; 3-period mean 15.4%, range 11.1%-19.8%.
Chart
  • HY24 ROE %: Outside range low roe. 11.1%; 3-period range 15.3% to 36.2%. ROE: 11.1%, below normal range; 3-period mean 23.8%, range 15.3%-36.2%.
  • FY25 ROE %: Outside range low roe. 19.7%; 3-period range 26.7% to 29.4%. ROE: 19.7%, below normal range; 3-period mean 28.3%, range 26.7%-29.4%.
Net debt—-$145.6m—-$142.4m——-$149.9m———
Chart
Net debt / Operating profit—n/m—n/m——n/m———
Chart
Debtor days3133Outside range high debtor days. 3d; 3-period range 1d to 2d. Debtor days: 3.2 days, above normal range; 3-period mean 1.3 days, range 0.7 days-2.5 days.2Unprecedented low debtor days. 2d; 4-period range 3d to 3d. Debtor days: 1.8 days, unprecedented low; 4-period mean 2.7 days, range 2.6 days-2.8 days.1Outside range low debtor days. 1d; 3-period range 1d to 3d. Debtor days: 0.7 days, below normal range; 3-period mean 2.1 days, range 0.7 days-3.2 days.1323Outside range high debtor days. 3d; 4-period range 2d to 3d. Debtor days: 2.8 days, above normal range; 4-period mean 2.4 days, range 1.8 days-2.7 days.
Chart
  • HY24 Debtor days: Unprecedented low debtor days. 2d; 4-period range 3d to 3d. Debtor days: 1.8 days, unprecedented low; 4-period mean 2.7 days, range 2.6 days-2.8 days.
  • FY25 Debtor days: Outside range high debtor days. 3d; 3-period range 1d to 2d. Debtor days: 3.2 days, above normal range; 3-period mean 1.3 days, range 0.7 days-2.5 days.
Inventory days51Outside range low inventory days. 51d; 4-period range 51d to 56d. Inventory days: 51.0 days, below normal range; 4-period mean 52.8 days, range 51.3 days-55.9 days.42524652485556Unprecedented high inventory days. 56d; 4-period range 51d to 52d. Inventory days: 55.9 days, unprecedented high; 4-period mean 51.6 days, range 51.0 days-52.0 days.5951
Chart
  • HY27 Inventory days: Outside range low inventory days. 51d; 4-period range 51d to 56d. Inventory days: 51.0 days, below normal range; 4-period mean 52.8 days, range 51.3 days-55.9 days.
Total assets$671.5m$697.1m$671.5m$692.5m$680.2m$721.2m$717.4m$661.5m$688.5m$653.6m
Chart

Reference: annolyse.ai/companies/bgp

Note: Figures are shown as reported. Half-year and full-year absolute values are not directly comparable. Growth rates and ratios are the meaningful comparison across mixed periods.

Filing-only history charts

These charts use verified published filing periods only. Gaps are not interpolated, and mixed half-year/full-year histories are split into separate series.

Revenue

Reported revenue across covered periods.

Loading chart...

Revenue growth

Like-period revenue growth where comparable.

Loading chart...
  • HY22 BGP HY: Unprecedented high revenue growth. 22.6%; 4-period range 0% to 2.7%. Revenue growth: 22.6%, unprecedented high; 4-period mean 1.2%, range 0.0%-2.7%.
  • HY26 BGP HY: Outside range low revenue growth. 0%; 4-period range 0.8% to 22.6%. Revenue growth: 0.0%, below normal range; 4-period mean 6.8%, range 0.8%-22.6%.
  • FY22 BGP FY: Outside range high revenue growth. 6.1%; 3-period range -0.1% to 5.6%. Revenue growth: 6.1%, above normal range; 3-period mean 2.1%, range -0.1%-5.6%.
  • FY25 BGP FY: Outside range low revenue growth. -0.1%; 3-period range 0.8% to 6.1%. Revenue growth: -0.1%, below normal range; 3-period mean 4.2%, range 0.8%-6.1%.

EBITDA-equivalent

Company-specific earnings measure where disclosed.

Loading chart...

EBITDA margin

EBITDA-equivalent margin where revenue and earnings are source-backed.

Loading chart...

NPAT

Statutory profit after tax.

Loading chart...

Operating cash flow

Cash generated from operations.

Loading chart...

More financial metrics

Additional filing-backed metrics for this company. Each point links to the relevant published briefing.

OCF / EBITDA

Cash conversion against earnings.

Loading chart...

FCF pre-lease

Operating cash flow less capex before leases.

Loading chart...

ROE

Return on equity.

Loading chart...
  • HY22 BGP HY: Outside range high roe. 36.2%; 3-period range 11.1% to 19.8%. ROE: 36.2%, above normal range; 3-period mean 15.4%, range 11.1%-19.8%.
  • HY24 BGP HY: Outside range low roe. 11.1%; 3-period range 15.3% to 36.2%. ROE: 11.1%, below normal range; 3-period mean 23.8%, range 15.3%-36.2%.
  • FY22 BGP FY: Outside range high roe. 29.4%; 3-period range 19.7% to 28.7%. ROE: 29.4%, above normal range; 3-period mean 25.0%, range 19.7%-28.7%.
  • FY25 BGP FY: Outside range low roe. 19.7%; 3-period range 26.7% to 29.4%. ROE: 19.7%, below normal range; 3-period mean 28.3%, range 26.7%-29.4%.

Net debt

Borrowings less cash; negative values indicate net cash.

Loading chart...

DPS

Dividend per share declared for the period.

Loading chart...

Payout ratio

Dividend payout against statutory NPAT.

Loading chart...
  • HY23 BGP HY: Outside range low payout ratio versus npat. 58.6%; 3-period range 76.1% to 83.8%. Payout ratio versus NPAT: 58.6%, below normal range; 3-period mean 80.2%, range 76.1%-83.8%.
  • HY24 BGP HY: Outside range high payout ratio versus npat. 83.8%; 3-period range 58.6% to 80.8%. Payout ratio versus NPAT: 83.8%, above normal range; 3-period mean 71.8%, range 58.6%-80.8%.

Debtor days

Receivables days where the working-capital inputs are source-backed.

Loading chart...
  • HY22 BGP HY: Outside range high debtor days. 3d; 4-period range 2d to 3d. Debtor days: 2.8 days, above normal range; 4-period mean 2.4 days, range 1.8 days-2.7 days.
  • HY24 BGP HY: Unprecedented low debtor days. 2d; 4-period range 3d to 3d. Debtor days: 1.8 days, unprecedented low; 4-period mean 2.7 days, range 2.6 days-2.8 days.
  • FY24 BGP FY: Outside range low debtor days. 1d; 3-period range 1d to 3d. Debtor days: 0.7 days, below normal range; 3-period mean 2.1 days, range 0.7 days-3.2 days.
  • FY25 BGP FY: Outside range high debtor days. 3d; 3-period range 1d to 2d. Debtor days: 3.2 days, above normal range; 3-period mean 1.3 days, range 0.7 days-2.5 days.

Inventory days

Inventory days where the working-capital inputs are source-backed.

Loading chart...
  • HY23 BGP HY: Unprecedented high inventory days. 56d; 4-period range 51d to 52d. Inventory days: 55.9 days, unprecedented high; 4-period mean 51.6 days, range 51.0 days-52.0 days.
  • HY27 BGP HY: Outside range low inventory days. 51d; 4-period range 51d to 56d. Inventory days: 51.0 days, below normal range; 4-period mean 52.8 days, range 51.3 days-55.9 days.

Operating working-capital movement

Per-period working-capital absorption or release, from the same published history. Positive values are working-capital build; negative values are release.

Loading chart...
  • HY22 BGP: Outside range high operating working-capital movement. $17.4m; 3-period range $-0.8m to $11.9m. Operating working-capital movement: NZ$17.4m, above normal range; 1/3 prior periods had builds averaging NZ$11.9m, and 1 had releases averaging NZ$-0.8m.
  • HY27 BGP: Outside range low operating working-capital movement. $-0.8m; 3-period range $0m to $17.4m. Operating working-capital movement: NZ$-0.8m, below normal range; 2/3 prior periods had builds averaging NZ$14.7m, and none had a working-capital release.

The setup & the reality

FY26 → HY27 Follow-through

The latest result is checked against what the prior briefing said to watch.

Historical setup

What FY26 said to watch

Previous analysisFY26Result releasedAnnolyse analysis published

From PBT fell 12.8% on 114bp gross margin squeeze; tax rate masked NPAT

No forward targets were supplied with the release, so this briefing cannot test the result against a stated FY27 number. What the release does support is a tentative read that gross-margin pressure was easing into H2 (76bps versus 154bps), and that inventory was reduced into year end ($8.9m lower) without an obvious clearance hit large enough to crash full-year margin further.

What it does not support is a view that operating profit has stabilised. PBT down 12.8% on a 0.9% revenue rise means cost-to-serve and merchandise margin are still the binding constraint, and a flat top line cannot offset further gross-margin slippage if H2's improvement does not extend.

Open questions

Open questions from FY26

  • Why did the effective tax rate fall from 36.2% to 28.6%, and is 28.6% a reasonable run-rate going forward?
  • What is driving the 114bp gross-margin compression - promotional intensity, freight and input costs, or channel mix - and how much of the H2 recovery is structural?
  • How should investors think about the FY27 capex envelope after $50.4m this year, and what part of it is maintenance versus strategy?
  • Will the $14.0m working-capital release reverse in FY27 as inventory days normalise, and how would that affect operating cash flow?
  • What is the targeted online sales mix beyond the 20.04% achieved, and what gross-margin profile does the online channel carry relative to stores?

This briefing cannot assess same-store sales, store-count movements, or any forward earnings trajectory because no comparable-sales data or FY27 guidance is supplied in the release.

Latest result sources

Primary issuer documents used for the HY27 briefing. Document labels are preserved from the publication record; Annolyse does not relabel every financial report as an annual report.

Current period

BGP - HY July 2026 Financial Statements and Independent Auditors Review Report

HY27 / financial report

BGP - HY July 2026 Results Announcement

HY27 / results announcement

BGP - HY July 2026 Results Commentary

HY27 / results release

Prior comparable period

BGP - HY July 2025 Financial Statements & Independent Auditors Review Report

HY26 / financial report

BGP - HY July 2025 Results Announcement

HY26 / results announcement

BGP - HY July 2025 Results Commentary

HY26 / results release

Full-year context

BGP FY 25 Jan 2026 Financial Statements and IAR

FY26 / financial report

BGP FY 25 Jan 2026 Results Announcement

FY26 / results announcement

BGP FY 25 Jan 2026 Results Commentary

FY26 / results release

Release context

BGP - Addresses to Annual Meeting 15 May 2025

HY26 / commentary

BGP - Addresses to Annual Meeting 7 May 2026

HY27 / commentary

Peer context

Retail general comparison set

These companies share the same curated sub-sector label. Their reporting definitions can still differ, so compare the underlying measures before ranking them.

WHS · FY25

The Warehouse Group

2 published result briefings

Compare BGP, WHS →Consumer result archiveNZX retail comparison

Archive

Briefing archive

The full chronological archive contains every published result briefing.

HY27 · Released 16 September 2026

Cash conversion fell to 17.0% while a capex surge flipped free cash flow

Revenue rose 0.8% and PBT fell 5.6%, but operating cash flow dropped 67.9% as capex nearly doubled for network and automation investment.

Read briefing

FY26 · Released 11 March 2026

PBT fell 12.8% on 114bp gross margin squeeze; tax rate masked NPAT

Record sales hide a 114bp gross margin contraction, with the effective tax rate dropping from 36.2% to 28.6% to keep NPAT only 2.3% lower.

Read briefing

HY26 · Released 10 September 2025

Margins compressed to historical floor while dividend exceeds free cash flow

PBT margin at 11.0% sits at the bottom of the four-year range and the interim dividend consumes 227.8% of $9.8m pre-lease free cash flow.

Read briefing

FY25 · Released 12 March 2025

Gross margin fell 203bps, driving PBT down 18.9% on flat revenue

A higher effective tax rate widened NPAT's decline to 28.0%, capex stepped up nearly fourfold, and the final dividend was reduced to 10.0 cps

Read briefing

HY24 · Released 11 September 2024

Gross margin compressed 264bps and pre-lease FCF fell to $3.0m

Operating profit declined 13.6% as capex jumped 4.5x to $35.0m and a 41.3% effective tax rate widened the NPAT decline.

Read briefing

FY24 · Released 13 March 2024

Gross margin compressed 162bps, cutting NPAT 4.8% on flat revenue

Operating profit fell 6.8% as gross margin moved to 42.4%, while operating cash flow fell 14.6% despite an 11% inventory drawdown.

Read briefing
Open all 10 result briefings

Related insights

Compare this company

The latest BGP metrics also appear in these cross-company comparisons.

Insight

Cash conversion quality

This result converted 17.0% of EBITDA to operating cash flow, -35.5pp versus the prior comparable period.

Open insight

Insight

Dividend coverage and payout pressure

Company-disclosed payout ratio is 60.0% on a NPAT basis, with NPAT payout at 80.8%.

Open insight

Insight

Earnings quality and statutory distortions

PBT and NPAT growth diverged by 0.2pp.

Open insight

Insight

Revenue growth context

Revenue growth was 0.8% for this reporting period.

Open insight

Get notified when BGP publishes

Get the next Briscoe Group result briefing and five-year history updates by email.