Briscoe Group, the retailer controlled by Managing Director Rod Duke, is expected to post 100 per cent increase the net profit during the first half of the year. The retailer would announce the audit results next month and hopeful of posting net profit of more than $20 million due to heavy sales in the Christmas period.

The retailer posed 16 per cent rise in store sales to $102 million while its revenue from sports goods surged 11 per cent to $45 million.

Mr. Duke said that homeware chain will register growth in response to the improving market conditions. He said that it is due to firm's focus on product ranges and promotions, the company captured significant market share in the fourth quarter.

Guy Hallwright, a retail analyst with Forsyth Barr, said, "Even though there were 14 weeks in the quarter, sales were a bit better than we expected ... but margins were better than we expected in the fourth quarter as well." He said that there is a possibility of improvement in the Living and Giving business in the coming quarters.

Shares of the retailer surged 9 per cent to $1.35 in the volatile trading day.