Hallenstein Glasson Ltd Trading update and profit forecast
MKTUPDTE
Thu, Sep 05 2024 09:11 am
5 September 2024
HALLENSTEIN GLASSON HOLDINGS LIMITED
TRADING UPDATE FOR THE FULL YEAR ENDED 1 AUGUST 2024
The Company advises that Group sales for the 12 months ended 1 August 2024 were $435.6 million, an increase of 6.3% on the prior year ($409.7 million), with an improved gross margin of approximately +200 basis points.
Group net profit before tax is expected to be within the range of $51.5 million to $52.5 million (prior year $45.4 million), an increase of approximately +14.5%.
Group net profit after tax is expected to be within the range of $34.0 million to $34.75 million (prior year $32.0 million). This includes a net non-cash deferred tax expense of approximately $1.1 million connected to changes in tax legislation on the deductibility of depreciation on non-residential buildings.
The balance sheet for the Group remains strong with significant cash reserves and well-maintained stock levels, contributing to improved gross margin for the year.
A full announcement with financial statements including a dividend declaration will be released to the market on 30 September 2024.
Chris Kinraid
Group CEO
Announcement PDF
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