Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Hallenstein Glasson Trading Update

 

 

Media Release                                                                                  10 July, 2008

 

Hallenstein Glasson Trading Update


Hallenstein Glasson Holdings Limited reports that sales for the winter season have continued to be under pressure from a deteriorating retail market in both New Zealand and Australia, with group sales down 6% this winter when compared to last winter.  Profit after tax for the full year to 1 August 2008 is now expected to be approximately $15.0 million.  This compares with $21.3 million last year.

CEO Shayne Quanchi says the change in the retailing climate is the result of consumer reaction to increased fuels and food costs and higher mortgage interest rates. 

“The current environment is the most challenging experienced for a number of years.  There is fierce competition for consumers’ wallets.  As a result, margins are being squeezed and every effort is being made to control stock levels.  Fortunately our business model is based on high stock-turn, so we expect to end the season with our stock levels in good shape.”

Hallenstein Glasson Holdings’ full year result is scheduled for release on 24 September 2008.

ENDS

 

 

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO:

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO:

Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>

ALSO: