Sharechat Logo

Hallenstein Glasson says first-half profit rose about 63%, beating earlier guidance

Friday 16th February 2018

Text too small?

Hallenstein Glasson Holdings says first-half profit rose about 63 percent on a strong rise in sales and improving gross margin. 

The clothing retailer said total group sales for the six months ended Feb 1 were $146.8 million, an increase of 19.4 percent over the prior corresponding period. Gross margin for the period was approximately 3.5 percentage points up on the prior year which was achieved through strong sales performance, improved buying strategy and reduced promotional activity and discounting, it said.

As a result, group profit after tax was in a range of $14.75 million to $15.25 million versus $9.2 million in the prior year, an increase of approximately 63 percent.  In December the company said it had expected net profit to rise by more than 50 percent as it sold more clothing at full price and reduced its levels of promotions and discounts. 

The company also said "the balance sheet for the group remains strong and stock levels continue to be well controlled."  It is due to announce the first half results on March 30. 

The stock last traded at $4.30 and is up 27 percent over the past 12 months. 


  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares fall as investor uncertainty weighs on exporters; F&P Health, A2 drop
NZ dollar drops below US68c on plan to up bank capital
Noel Leeming fined $200,000 for misleading consumers
Big four banks face stiffer capital requirements from RBNZ
Infratil signals A$50m investment in Canberra Data Centres
Govt provides $2.5 mln to develop Opotiki aquaculture
Labour co-ordinator role may alleviate kiwifruit labour shortage
NZ manufacturing activity chugs along in November
Australia's GWA lobs in $118M bid for Methven
Govt leaves door open for higher emissions price cap

IRG See IRG research reports