Hallenstein Glasson has reported a 1.5% increase in net profit after tax for the six months ended Feb 1 2024, reaching $21.1 million.
Group sales for the period were $223m, in line with the prior corresponding period.
The company attributed the improved profitability to higher gross margin on sales, which rose to 58.9% from 56.5%.
This was driven by ongoing sourcing benefits and lower net freight costs.
However, e-commerce sales slightly decreased to 17.3% of total group sales.
Hallenstein Glasson's balance sheet remains strong, with improved working capital and significant cash reserves.
The company declared an interim dividend of 24 cents per share, to be paid on April 18 2024.
While the winter season trading has started positively, Hallenstein Glasson expects ongoing challenges in the current economic environment.
Group CEO, Chris Kinraid, highlighted the focus on delivering fashionable products and cost efficiencies.
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