Hallenstein Glasson says annual profit rose about 58% after Storm sale

Wed, 08 Aug 2018

By Paul McBeth Aug. 9 (BusinessDesk) - Hallenstein Glasson Holdings says annual profit rose about 58 percent, outpacing sales growth and after the clothing chain sold its Storm brand. Net profit was between $27.1 million and $27.6 million in the year ended Aug. 1, up from $17.3 million a year earlier, the Auckland-based company said in a statement. That outpaced a 16 percent increase in sales to $239 million and captures four months of its Storm exit. "The group’s balance sheet remains strong and future cash flow is projected to be p...

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