Cautious growth ahead for Hallenstein Glasson amid slowing of sales

The post-pandemic rebound appears to be over for Hallenstein Glasson. (Image: Glassons)

Tue, 12 Dec 2023

Hallenstein Glasson Holdings came out strong after the pandemic with a 24.9% jump in net profits for its 2023 financial year, but sales for the first 19 weeks of the new financial year declined by 4.7%. Economic conditions and cost-of-living pressures were affecting consumer spending habits in Australia and New Zealand, board chair Warren Bell said at the group’s annual meeting in Christchurch on Tuesday. This, coupled with an unseasonably warm winter, made clearing winter products more challenging, he told shareholders.&nb...

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