Net profit up but post-pandemic online sales down for Hallenstein Glasson

New Zealand sales saw a small increase of 7.7%, but Australian sales shot up 21.8%. (Image: Glassons)

Fri, 29 Sep 2023

Hallenstein Glasson Holdings reported a 24.9% jump in net profit as the retailer continued to enjoy the post-pandemic trading environment.Group sales for the 12 months ended Aug 1 rose 16.7% to $409.7 million, up from $351.2m in the previous year. Audited net profit after tax edged up almost 25% to $31.9m, up from the 2022 net profit of $25.6m but lower than the net profit of $33.3m in 2021. Group chief executive Stuart Duncan said the sales performance of HLG’s brands was “well ahead” of the prior co...

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