Hallenstein Glasson reports 7.6% sales increase

Hallenstein Glasson has reported a 7.6% increase in unaudited total group sales for the six months ended February 1, 2025.

Sales reached $240 million, compared to $223m in the same period last year.

However, group unaudited net profit after tax was $21.2m, a slight increase of 0.3% from $21.1m.

The company's gross margin on sales decreased to 58.5% from 58.9% due to the challenging retail environment in New Zealand and the impact of the strengthening US dollar on inventory purchasing costs.

The balance sheet remains strong, with improved working capital and cash reserves of $49.9m.

Hallenstein Glasson declared an interim dividend of 24.5 cents per share, to be paid on April 17, 2025.

Group sales for the first seven weeks of the current financial year were 5.4% higher than the same period last year, but margin remains under pressure.