Total sales were up slightly in the period to $419 million, but same-store same-day sales growth was up 2.4%.
Forsyth Barr broker Suzanne Kinnaird said the result was in line with expectations.
"In fact, based on their sales guidance early February, we had shaved our numbers back a little. As it turned out, we didn't need to do this as they came in above our revised forecasts by about the amount we'd shaved them back. The share price is up 4c currently, so the market reaction reflects this."
Margins held up well, which was a good effort in a tough environment, she said. It was a solid result with no real surprises.
"The company didn't really give us any guidance on what they see happening over the next year, other than to say that it will be dependent on the economic recovery. Of course, that will now be affected by the impact the Christchurch earthquake has on the economy."
The final dividend was up at 6c per share compared to 5cps last year, which was a nice surprise for shareholders, she said.
Briscoe Group managing director Rod Duke said, during a tough year, the company had continued to focus on controlling costs, buying well and planning and implementing effective promotions.
"We have increased the aggression of our promotions and customers have responded positively to the more creative ways in which these have been delivered."
That had resulted in some initial margin erosion, but gross margin percentage for the second half matched the previous year.
Briscoe Group operates on a weekly trading and reporting cycle, resulting in 52 weeks for most years, with a 53-week year once every six years, including last year. During the past year, four Living & Giving stores were closed, taking the number of homewares stores to 54.
Sporting goods store numbers were unchanged at 32, although the relocation of two Rebel Sport stores slightly decreased total floor area.
Mr Duke said all the group's seven Christchurch stores opened within a short time of the initial Canterbury earthquake on September 4 and had been trading at a reasonable level, but the second quake on February 22 did further damage to some stores.
The full level of damage to two stores was still being assessed. Costs and lost profit resulting from the earthquake were covered by insurance policies.
During the latest year, Briscoe Group had capital investments of $4.8 million, with Mr Duke saying the programme of store opening and refurbishment had stepped up from the previous year's rather subdued level.
Briscoe Group expected to continue to strengthen its position in homeware and sporting goods retail, but the extent of any improvement in financial performance would depend on the overall economic environment, which remained volatile.
