1 00:00:00,360 --> 00:00:05,480 Speaker 1: First, let's go to Brisco's or Brisco should I say, 2 00:00:06,040 --> 00:00:10,760 Speaker 1: And despite consumer spending being down, Brisco Group has managed 3 00:00:10,760 --> 00:00:14,600 Speaker 1: to power through posting record half year sales. It's twenty 4 00:00:14,640 --> 00:00:17,200 Speaker 1: six week half year sales to the end of July 5 00:00:17,400 --> 00:00:20,320 Speaker 1: reached three hundred and seventy two point one million, which 6 00:00:20,400 --> 00:00:22,320 Speaker 1: is a point seven to seven percent increase in the 7 00:00:22,320 --> 00:00:26,000 Speaker 1: same period ladst year, the group's home were sales that's 8 00:00:26,040 --> 00:00:30,360 Speaker 1: Briscoes also increased point to eight percent over the period. 9 00:00:30,760 --> 00:00:33,840 Speaker 1: Sporting goods that's Rebel Sport that went up one point 10 00:00:33,840 --> 00:00:36,200 Speaker 1: five to eight percent. So Rod Duke is the group 11 00:00:36,200 --> 00:00:39,360 Speaker 1: managing director of Brisco Group, and he joins me, Now, 12 00:00:39,400 --> 00:00:42,479 Speaker 1: good evening to you, right evening, Andrew, Now what's the 13 00:00:42,479 --> 00:00:44,720 Speaker 1: magic trick? Mate? Everybody in retail wants to know how 14 00:00:44,760 --> 00:00:45,479 Speaker 1: you can make money. 15 00:00:47,520 --> 00:00:52,080 Speaker 2: Look, Look, it is true, it's very very difficult out 16 00:00:52,120 --> 00:00:53,960 Speaker 2: there at the moment. I think the numbers you're seeing 17 00:00:54,120 --> 00:00:58,000 Speaker 2: from us is probably more about a market share shift 18 00:00:58,160 --> 00:01:01,080 Speaker 2: to the two brands that I have, both in Rebel Sport, 19 00:01:01,520 --> 00:01:05,960 Speaker 2: rather than increased customers. They're just seem to be switching 20 00:01:06,000 --> 00:01:09,200 Speaker 2: their purchasing patterns across to across to our brands. 21 00:01:09,560 --> 00:01:12,600 Speaker 1: Well, then once again, what's the secret? What makes Brisco 22 00:01:12,680 --> 00:01:15,759 Speaker 1: better than any other homeware supply? What makes Rebel Sport 23 00:01:15,800 --> 00:01:17,440 Speaker 1: better than any other sporting supplier? 24 00:01:17,920 --> 00:01:21,000 Speaker 2: Look, I guess it's all about selling high quality products 25 00:01:21,000 --> 00:01:24,600 Speaker 2: at real good prices. That's where we've sat for many, 26 00:01:24,640 --> 00:01:30,320 Speaker 2: many years. It's their strategy is unchanged, and when we 27 00:01:30,360 --> 00:01:31,959 Speaker 2: do that, we tell a lot of people that we're 28 00:01:31,959 --> 00:01:32,480 Speaker 2: going to do it. 29 00:01:32,840 --> 00:01:35,600 Speaker 1: So is that what you'd say to Paul and Liz Blackwell, 30 00:01:35,640 --> 00:01:42,280 Speaker 1: who bought Torpedo seven off the Warehouse Group for a dollar? No? 31 00:01:42,440 --> 00:01:47,200 Speaker 2: I know, paulian that team pretty well. Look, they'll probably 32 00:01:47,560 --> 00:01:50,880 Speaker 2: they'll probably do okay out of that, but they're in 33 00:01:50,880 --> 00:01:53,320 Speaker 2: a slightly different category than we are. Anyway. 34 00:01:54,080 --> 00:01:56,120 Speaker 1: You also said you're not going to produce a net 35 00:01:56,160 --> 00:01:59,800 Speaker 1: profit above tax above last year's forty two point seven, 36 00:02:00,040 --> 00:02:01,760 Speaker 1: And we all know the good thing about you is 37 00:02:01,920 --> 00:02:04,040 Speaker 1: your company is pretty cast rich. So where do you 38 00:02:04,040 --> 00:02:05,520 Speaker 1: think you're going to end out eventually? 39 00:02:07,040 --> 00:02:09,240 Speaker 2: Oh, well, we know pretty much where we're going to 40 00:02:09,280 --> 00:02:10,760 Speaker 2: end up. For the half year. It's going to be 41 00:02:11,960 --> 00:02:14,200 Speaker 2: forty million n change, which is going to be about 42 00:02:14,240 --> 00:02:17,760 Speaker 2: ninety four n last year. What happens at the end 43 00:02:17,800 --> 00:02:20,639 Speaker 2: of year. Our interview ends in January. Where it ends 44 00:02:20,720 --> 00:02:25,079 Speaker 2: up largely depends on the market. You know, we're hopeful 45 00:02:25,160 --> 00:02:27,680 Speaker 2: to get the same or a slightly better number than 46 00:02:27,760 --> 00:02:29,720 Speaker 2: last year, but we're just going to have to wait 47 00:02:29,760 --> 00:02:30,280 Speaker 2: and see. 48 00:02:30,720 --> 00:02:33,600 Speaker 1: And of course the current managers survive until twenty five. 49 00:02:35,720 --> 00:02:37,519 Speaker 1: Do you see a turnaround next year? 50 00:02:38,639 --> 00:02:40,799 Speaker 2: Look like the rest of the market. We're hoping so, Andrew, 51 00:02:40,800 --> 00:02:43,000 Speaker 2: but you need to see the green shoots first. I 52 00:02:43,080 --> 00:02:46,280 Speaker 2: think the suburbs need to feel a bit more secure 53 00:02:46,320 --> 00:02:53,760 Speaker 2: about their their outgoings. You know, the insurances, the wages 54 00:02:53,800 --> 00:02:57,520 Speaker 2: coming in, the inflation and the price of petrol, all 55 00:02:57,560 --> 00:03:02,799 Speaker 2: those costs that are hitting the subs. Everyone's just worried 56 00:03:02,800 --> 00:03:04,959 Speaker 2: about it. And housing interest rates of course. 57 00:03:04,800 --> 00:03:06,919 Speaker 1: Of course, of course. But of course, at the same time, 58 00:03:07,000 --> 00:03:09,200 Speaker 1: even while all that is happening, you still need sneakers 59 00:03:09,200 --> 00:03:11,000 Speaker 1: and you still need names and forks. 60 00:03:12,000 --> 00:03:15,720 Speaker 2: Well, yeah, we are in the staples business, even though 61 00:03:17,040 --> 00:03:20,360 Speaker 2: some would say sporting goods are not really staples their luxuries. 62 00:03:20,400 --> 00:03:23,200 Speaker 2: That still sees me going pretty well. 63 00:03:23,440 --> 00:03:26,600 Speaker 1: Well. Congratulations, right, and bring on the full year and 64 00:03:26,680 --> 00:03:28,040 Speaker 1: let's bring on a turnaround day. 65 00:03:28,760 --> 00:03:30,079 Speaker 2: Cheers mate, thank you. 66 00:03:31,120 --> 00:03:33,320 Speaker 1: So no, he didn't tell us the magic secret source. 67 00:03:33,440 --> 00:03:35,520 Speaker 1: Did he really though he has been quite open about 68 00:03:35,520 --> 00:03:37,680 Speaker 1: some of the successors of this company in the past. 69 00:03:37,680 --> 00:03:39,200 Speaker 1: The fact of the matter is they have no debt, 70 00:03:39,920 --> 00:03:43,160 Speaker 1: which is quite handy. Really good on them for doing that. 71 00:03:43,160 --> 00:03:45,920 Speaker 1: That means when you see a profit of forty million dollars, 72 00:03:46,040 --> 00:03:48,200 Speaker 1: that money and other companies is going towards the debt 73 00:03:48,240 --> 00:03:50,120 Speaker 1: and the financing and all that sort of stuff. So 74 00:03:50,360 --> 00:03:52,040 Speaker 1: it helps if you have no debt. 75 00:03:52,640 --> 00:03:55,800 Speaker 2: For more from Hither Duplessy Allen Drive, listen live to 76 00:03:55,880 --> 00:03:58,920 Speaker 2: news talks it'd be from four pm weekdays, or follow 77 00:03:58,960 --> 00:04:00,680 Speaker 2: the podcast on iHeartRadio.