Hallenstein Glasson reports 6.3% sales increase

Hallenstein Glasson has reported a 6.3% increase in group sales for the full year ended August 1, 2024.

Sales reached $435.6 million, compared to $409.7m in the previous year.

The company also achieved a 14.7% increase in net profit before tax, reaching $52.1m.

However, group net profit after tax was $34.5m, a slight increase from $32m.

This result was impacted by a net non-cash deferred tax expense of $1.1m.

The company's strong balance sheet was highlighted, with a cash balance of $45.9m at the end of the financial year.

In Australia, Glassons reported a 14.1% increase in sales, while New Zealand sales decreased by 2.1%.

The company declared a final dividend of 26.5 cents per share.

Group sales in the first eight weeks of the new financial year improved by 10.9%.