Clothing retailer Hallenstein Glasson (HLG) has increased its bottom line, driven by stronger Glassons sales in Australia.
Key numbers for the 12 months ended August compared with a year ago:
- Net profit after tax $39.5m vs $34.5m
- Revenue $470.7m vs $435.6m
- Operating profit $61m vs $54.3m
- Final dividend 30.5 cents per share vs 26.5 cps
Glassons' Australian sales picked up 15 percent to $251.5 million, with the company opening two new stores in the country, taking its Australian store count to 40.
"Glassons Australia is currently working with its landlord on a new purpose-built larger warehouse with improved automation which will ensure the business is prepared for future growth," HLG said.
HLG said it continued to explore new Glassons store opportunities in Australia.
Glassons' sales in New Zealand rose just under 2 percent, with the company refurbishing its Lynn Mall, Shirley and Queen St stores.
The company closed its Timaru Glassons store at the end of August 2024.
Hallensteins' sales across both Australia and New Zealand were flat on the prior year at $107.3m, while pre-tax profit fell by more than a third.
"While a challenging year for the brand, the second half saw encouraging improvements on the prior corresponding period," HLG said.
HLG said the first seven weeks of the new financial year delivered a solid start, with group sales up 13 percent on the prior year, driven by Australia.
"In New Zealand, trading conditions remain mixed, with cost-of-living pressures continuing to impact discretionary spend across both brands despite some moderate signs of improvement."
Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
