27 Mar 2015

Hallenstein Glasson profit rises 40 percent

12:10 pm on 27 March 2015

Robust summer season sales have lifted Hallenstein Glasson Holdings' first half net profit by 40 percent, says the clothing retailer.

Hallenstein Glasson's December sales fell.

Photo: RNZ

The company made a $8.6-million profit in the six months to the beginning of February, over the year earlier period.

Sales rose more than 4 percent to $110.9 million.

The company said it had regained its market share with sales up 5 percent and net profit up 52 percent in December and January, compared with the year earlier season.

And it said the strong momentum had carried forward into the first few weeks of the second half of the year, with group sales up more than 14 percent on last year, with all chains performing well, which includes Storm, Glassons and Hallensteins.

The company said it was too soon to project winter season sales but each of its chains was in a strong position to capitalise on results so far.

Hallenstein Glasson will pay an interim dividend of 14.5 cents, which is a 21 percent increase on the year earlier period.

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