Briscoe Group managing director Rod Duke has tipped an extra $917,000 into the retail company’s shares, saying they are “extremely good value” in a low-interest rate environment. Duke’s family trust, which owns 77 per cent of Briscoe, paid an average $3.99 for 229,650 more shares, according to a filing to the NZX on Wednesday. “It just seems to me that around about now they looked extremely good value, particularly with interest rates as poorly as they are and the banks paying shocking money for deposits,” Duke said. That was boosted by an $11.5 million government wage subsidy, which it decided last week to return after trading improved. Briscoe shares were trading at $4.01 on Wednesday, and have gained 11 per cent over the past year.

Source: Stuff October 21, 2020 15:56 UTC