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

 

Hallenstein says FY profit rose as much as 14%

Hallenstein says FY profit rose as much as 14% on sales growth, insurance

Aug 20 (BusinessDesk) - Hallenstein Glasson Holdings, the clothing chain, said full-year earnings rose as much as 14 percent on increased sales and the contribution from insurance relating to the Christchurch earthquakes.

Profit in the 12 months ended Aug. 1 was between $20.4 million and $20.8 million, from $18.3 million a year earlier, the Auckland-based company said in a statement. Sales rose 4.9 percent to $215.6.

The retailer plans to release its full results for the period on Sept. 26. Pretax earnings in the latest year included $1.9 million of insurance proceeds compared to $2.97 million a year earlier, it said.

“Notwithstanding an exceptionally challenging retail environment all brands have shown positive same store growth and grown market share,” said chief executive Graeme Popplewell. “Gross margin on sales improved and market anomalies as a result of the Christchurch earthquakes are now behind us.”

Separately, the company said Diane Humphries had unexpectedly resigned as managing director for its Glassons women's clothing stores effective Oct. 31. Humprhies has left to take up a role as merchandise and brand director at children's clothing chain Pumpkin Patch.

The shares fell 0.5 percent to $4.37 and have climbed about 25 percent this year. The stock is rated a ‘hold’ based on five analyst recommendations compiled by Reuters, with a price target of $4.06.


(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Consumer NZ: Bank Complaints On The Rise, Survey Shows

Nearly one in five Kiwis had a problem with their bank in the past year, Consumer NZ’s latest satisfaction survey finds. Consumer NZ chief executive Jon Duffy said the number of bank customers reporting problems had jumped to 18%, up from 11% in 2020... More>>

Federated Farmers: Applauds UK-Australia Free Trade Deal

News that Australia and the UK have signed a free trade agreement is a promising step forward in the fight against tariffs and protectionism, Federated Farmers says.
"It reinforces the international rules-based trading framework and is important for rural producers and global consumers," Feds President Andrew Hoggard says... More>>



REINZ May Data: House Price Rises Continue; Auckland Hits New Record Median Price Again

Median prices for residential property across New Zealand increased by 32.3% from $620,000 in May 2020 to $820,000 in May 2021, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand... More>>


Stats NZ: GDP Climbs 1.6 Percent In March 2021 Quarter Following December Dip

Gross domestic product (GDP) rose by 1.6 percent in the March 2021 quarter, following a 1.0 percent fall in the December 2020 quarter, Stats NZ said today. "After an easing of economic activity in the December quarter, we’ve seen broad-based growth in the first quarter of 2021... More>>

Reserve Bank: Debt Serviceability Restrictions Added To Policy Toolkit

The Reserve Bank – Te Pūtea Matua and the Minister of Finance have agreed to update their shared Memorandum of Understanding (MoU) on macro-prudential policy and add debt serviceability restrictions to the list of potential tools available... More>>


Auction: 1.4 Million In Rare Vintage Watches, Gems, Jewels & Diamonds Go Under The Hammer At Webb’s

An auction event showcasing over 1.4 Million dollars in rare jewels, gems, diamonds and vintage watches is due to take place this Sunday by Auckland based auction house Webb’s... More>>