1 00:00:00,200 --> 00:00:02,840 Speaker 1: Now not bad news for Briscos. The retailer has posted 2 00:00:02,840 --> 00:00:05,840 Speaker 1: a firm full year result, net profits down only slightly 3 00:00:06,000 --> 00:00:08,479 Speaker 1: to fifty nine million dollars. The managing director is Rod 4 00:00:08,520 --> 00:00:11,719 Speaker 1: Duke Hirod I have. I would say that's a pretty 5 00:00:11,720 --> 00:00:13,880 Speaker 1: good outcome given the year that we've just had. Read 6 00:00:13,920 --> 00:00:15,400 Speaker 1: the cost of living. What do you think? 7 00:00:16,160 --> 00:00:18,320 Speaker 2: Look, we were pretty pleased as well as you could see. 8 00:00:18,400 --> 00:00:21,560 Speaker 2: The first half was a bit tough and it's sort 9 00:00:21,560 --> 00:00:24,720 Speaker 2: of eased up and we kicked a couple of goals 10 00:00:24,760 --> 00:00:27,480 Speaker 2: in the second half, so turned out pretty. 11 00:00:27,200 --> 00:00:28,800 Speaker 1: Good to you do you have how much did you 12 00:00:28,840 --> 00:00:29,760 Speaker 1: have to cut and costs? 13 00:00:32,240 --> 00:00:35,960 Speaker 2: But we didn't really Yes, we looked after costs and 14 00:00:36,159 --> 00:00:38,479 Speaker 2: as you can see, there's only been a small movement 15 00:00:38,520 --> 00:00:41,720 Speaker 2: in the cost of doing business. But we just sort 16 00:00:41,720 --> 00:00:44,280 Speaker 2: of tightened up a lot of things that we're able 17 00:00:44,320 --> 00:00:45,519 Speaker 2: to and so what. 18 00:00:45,520 --> 00:00:47,159 Speaker 1: Happened in the second half to turn it. 19 00:00:47,120 --> 00:00:51,720 Speaker 2: Around, Well, look, we did change a fair bit in 20 00:00:51,800 --> 00:00:53,080 Speaker 2: terms of the way in which we go to the 21 00:00:53,120 --> 00:00:56,240 Speaker 2: media and what we say in our promotions. But I 22 00:00:56,280 --> 00:01:01,120 Speaker 2: think generally the market just from out Friday sort of 23 00:01:01,240 --> 00:01:03,520 Speaker 2: just ease up a bit. People just got a bit 24 00:01:03,600 --> 00:01:05,280 Speaker 2: more confident. You still. 25 00:01:05,680 --> 00:01:08,479 Speaker 1: I was having a chat to Sky TV CEO Sophie 26 00:01:08,480 --> 00:01:10,840 Speaker 1: Maloney the other day and she was saying the old 27 00:01:10,840 --> 00:01:13,200 Speaker 1: TV advertising was softer than she was expecting. Are you 28 00:01:13,280 --> 00:01:15,160 Speaker 1: still seeing value in TV advertising? 29 00:01:15,840 --> 00:01:20,120 Speaker 2: We don't do a lot of it now. Why because 30 00:01:20,520 --> 00:01:25,720 Speaker 2: there's not as many eyeballs on it and the value 31 00:01:26,920 --> 00:01:28,760 Speaker 2: that used to be there is simply not there and 32 00:01:28,800 --> 00:01:29,680 Speaker 2: elsewhere at the moment. 33 00:01:29,800 --> 00:01:31,640 Speaker 1: And is it a case of it's an expensive thing 34 00:01:31,640 --> 00:01:33,080 Speaker 1: to make and then it doesn't bear much fruit? 35 00:01:34,880 --> 00:01:38,400 Speaker 2: Well, yes, it would be right to characterize it that way. 36 00:01:38,480 --> 00:01:42,600 Speaker 2: But you know, we've all known that media is going 37 00:01:42,640 --> 00:01:45,720 Speaker 2: to shift. We've done that for years and look, it 38 00:01:45,840 --> 00:01:48,920 Speaker 2: is what it is. People are just just taking notes 39 00:01:48,960 --> 00:01:53,680 Speaker 2: of different pieces of media rather than freeware or even 40 00:01:53,720 --> 00:01:54,600 Speaker 2: pay to EVA And. 41 00:01:54,560 --> 00:01:57,320 Speaker 1: So where are you putting your money? Advertising wise? I 42 00:01:57,400 --> 00:02:02,200 Speaker 1: love its social really and does that being much fruit plenty? 43 00:02:03,080 --> 00:02:04,280 Speaker 1: Because it can be tailored? 44 00:02:05,880 --> 00:02:09,560 Speaker 2: There is that and also we have a two million 45 00:02:09,800 --> 00:02:14,160 Speaker 2: person customer base that we can talk directly term as well. Yeah. 46 00:02:14,200 --> 00:02:17,040 Speaker 1: Interesting, now listen having a look at what's going on 47 00:02:17,120 --> 00:02:18,800 Speaker 1: in Iran, how are you feeling about that? 48 00:02:20,800 --> 00:02:25,280 Speaker 2: Look that that for this year? My year started February, 49 00:02:25,280 --> 00:02:27,760 Speaker 2: the first so this year that we've just started, the 50 00:02:27,760 --> 00:02:31,880 Speaker 2: elephant in the room is in fact Iran and Donald Trump. 51 00:02:32,560 --> 00:02:35,680 Speaker 2: If in fact that goes on and continues to cause 52 00:02:35,720 --> 00:02:39,160 Speaker 2: the term more and angst that it is, then it's 53 00:02:39,200 --> 00:02:41,600 Speaker 2: going to be going to be an issue. But look, 54 00:02:42,440 --> 00:02:44,160 Speaker 2: I happen to be in the view that he's got 55 00:02:44,919 --> 00:02:47,920 Speaker 2: midterm elections coming up, fighting a war he didn't need 56 00:02:47,960 --> 00:02:52,360 Speaker 2: to be in is probably not good, and he's likely 57 00:02:52,440 --> 00:02:58,160 Speaker 2: to pack up stumps and go home sooner rather than later. 58 00:02:58,639 --> 00:03:01,920 Speaker 1: You're probably right there, are you see any prices shift already? 59 00:03:01,919 --> 00:03:05,760 Speaker 2: Though no, not yet, not yet, but it's only just 60 00:03:05,760 --> 00:03:09,760 Speaker 2: been announced. These search charges an'ly just gone on. This 61 00:03:09,919 --> 00:03:14,360 Speaker 2: particular time of year is our low season for receipting 62 00:03:14,400 --> 00:03:18,760 Speaker 2: of overseas merchandise. But if it were to continue through 63 00:03:18,840 --> 00:03:21,480 Speaker 2: to over November, it would be a problem. 64 00:03:21,600 --> 00:03:24,600 Speaker 1: Yeah, quite a significant problem, wouldn't it. There are some 65 00:03:24,680 --> 00:03:27,480 Speaker 1: people who are talking about the possibility of this kicking 66 00:03:27,520 --> 00:03:30,160 Speaker 1: us into backwards into a recession in this country. What 67 00:03:30,160 --> 00:03:30,840 Speaker 1: do you think of that? 68 00:03:32,240 --> 00:03:38,040 Speaker 2: I think fuel is highly imflationiary, and I think the 69 00:03:38,080 --> 00:03:41,240 Speaker 2: Reserve Bank will have no choice but to movie interest rates, 70 00:03:41,720 --> 00:03:45,240 Speaker 2: But I don't think they'll do it instantly. I just 71 00:03:45,320 --> 00:03:47,400 Speaker 2: have a feeling, you know, A week or two or 72 00:03:47,400 --> 00:03:50,480 Speaker 2: three or four of this, you know may not be 73 00:03:50,720 --> 00:03:54,080 Speaker 2: quite enough to do that, but any extension to that 74 00:03:54,960 --> 00:03:56,880 Speaker 2: may very well be easy for the bank to make 75 00:03:56,920 --> 00:03:58,280 Speaker 2: those decisions. Rod. 76 00:03:58,360 --> 00:04:00,520 Speaker 1: Yeah, well see listen, Thank you very much, vladinm me 77 00:04:00,520 --> 00:04:03,240 Speaker 1: with Pecky Brains. It's Rod Duke, managing director at Brisco Group. 78 00:04:03,840 --> 00:04:07,000 Speaker 1: For more from Hither Duplessy Allen Drive listen live to 79 00:04:07,120 --> 00:04:10,160 Speaker 1: news talks it'd be from four pm weekdays, or follow 80 00:04:10,200 --> 00:04:11,960 Speaker 1: the podcast on iHeartRadio.