"This year we have implemented a number of system developments and process improvements, which have significantly improved both our fulfilment productivity and front-end functionality."
The retail chain, which operates Briscoes and Rebel Sports stores across the country, said its gross profit margin was 45.76 per cent, versus 43.76 per cent in 2021.
Chairwoman Dame Rosanne Meo said the final dividend would be paid on March 31. She noted the company's policy is to pay out at least 60 per cent of net profit after tax.
"We were delighted to be able to reward our shareholders by increasing our interim dividend earlier this year and also now with this final dividend announcement," she said.
"The results the team continue to produce are quite remarkable. Their ability to navigate the business through the ongoing uncertainty and disruption this year has been exemplary and has certainly differentiated Briscoe Group from other retailers."
Duke said the result was especially pleasing given the disruption posed by Covid-19 lockdowns.
"We're thrilled to announce record sales and profit for Briscoe Group in a year which has, incredibly, proved just as tumultuous as the previous.
"After posting very strong first-half results, it was extremely pleasing to be able to consolidate the full year with a solid second-half performance. Not only were our Auckland stores shut for a total of 84 days during this period (and all others for at least 21), but last year's second half also contained an additional week of trading as well as
experiencing a resurgence in sales from the retail recovery post the first national lockdown," he said.
This year's result includes $1.7m (after tax) of dividends from the group's investment in Kathmandu Holdings. No dividend was received last year as a result of Kathmandu's response to Covid-19.
The group's online business again experienced significant growth, especially with the move to the second national lockdown in August and the subsequent prolonged closure of Auckland, Northland and Waikato stores.
During the second half of the year with the disruption of store closures, online sales represented 26.39 per cent of total group sales compared to 16.16 per cent for the first half.
Online sales for the full year accounted for 21.47 per cent of total group sales, 21.01 per cent above those for the previous year.
"While the full-year mix was clearly influenced by store closures, we are confident that the 'normalised' online portion of our business is continuing to increase. This year we have implemented a number of system developments and process improvements which have significantly improved both our fulfilment productivity and front-end functionality," Duke said.
During the year $19.90m of capital investment was made by the group of which $9.66m represents the development of property owned by the group in Auckland and Silverdale. The balance of the capital investment was for the fit-out of new and refurbished stores, online platform improvements, security system upgrades and enhancements to system software and hardware.
