Monday 20th August 2012
|Text too small?|
Hallenstein Glasson Holdings, the clothing chain, said full-year earnings rose as much as 14 percent on increased sales and the contribution from insurance relating to the Christchurch earthquakes.
Profit in the 12 months ended Aug. 1 was between $20.4 million and $20.8 million, from $18.3 million a year earlier, the Auckland-based company said in a statement. Sales rose 4.9 percent to $215.6.
The retailer plans to release its full results for the period on Sept. 26. Pretax earnings in the latest year included $1.9 million of insurance proceeds compared to $2.97 million a year earlier, it said.
"Notwithstanding an exceptionally challenging retail environment all brands have shown positive same store growth and grown market share," said chief executive Graeme Popplewell. "Gross margin on sales improved and market anomalies as a result of the Christchurch earthquakes are now behind us."
The shares fell 0.5 percent to $4.37 and have climbed about 25 percent this year. The stock is rated a 'hold' based on five analyst recommendations compiled by Reuters, with a price target of $4.06.
No comments yet
Hallenstein shares fall as margin squeeze pushes annual earnings near bottom of guidance
Hallenstein annual profit falls 11 percent as Glasson margins come under pressure
While you were sleeping Wall Street, Wal-Mart drop
Hallenstein forecasts up to 12 percent drop in FY profit after slow start to winter
Hallenstein Glasson lifts 1H profit 15 percent, sales lag as weather stays warm
Hallenstein Glasson 1H profit climbs 15 percent on 'robust' NZ sales
Hallenstein says sales rose 7 percent in first 4 months
Hallenstein Glasson 1H profit rises 27%
Hallenstein Glasson Holdings
Hallenstein Glasson expecting a better first-half