Home / Knowledge / News / Apparel/Garments / Net profits dive 11.18% at Hallenstein Glasson
Net profits dive 11.18% at Hallenstein Glasson
Sep '13
The audited net profit after tax at Hallenstein Glasson Holdings Limited for the 12 months to August 1, 2013 was $18.669 million, a decrease of -11.18% over the corresponding period last year ($21.020 million).

Group sales for the period were $220.117 million, an increase of 2.10% over the corresponding period last year ($215.581 million).

Total Group Comprehensive Income for the period was $20.055 million, ($22.259 million). Included in Comprehensive Income is a gain of $1.17 9 million on revaluation of the Group’s property portfolio.

Whilst performance in the first half of the year was satisfactory, results for the winter season have been disappointing.

Both Hallensteins and Storm brands performed to expectations, but Glassons in both New Zealand and Australia have felt the full brunt of a record mild winter and aggressive discounting in the womenswear marketplace during the past 6 months.

Notwithstanding a decline in profit, the balance sheet remains strong. Stock levels are comparable with the previous year and cash reserves stand at $19.312 million. The group remains debt free.


Hallenstein Brothers

Sales for the year increased 5.33% and net profit after tax improved 17.71%. Hallensteins continued to redefine its position in the market and has made excellent progress in a challenging market.

During the period 3 non strategic stores were closed:

- Newmarket in July 2013

- Pakuranga in March 2013

- Masterton in July 2013


Sales for the year increased 24.06% (same store 19%) and Net Profit after Tax improved 17.23%. Since balance date Storm has opened its first store in Australia in Chapel Street Melbourne.

Glassons New Zealand

Sales for the year were -3.14% on the prior year, with the winter season proving to be a difficult challenge. Reduced margin resulted in a decline in profit of -21.77% for the full year.

Glassons Australia

Sales for the year (in Australian Dollars) increased 6.45%, with same store sales -5.53%. Reduced margin saw profit decline to a loss after tax in NZD of -$1.161 million. Included in that loss is a pre tax amount of NZD 500,000 incurred for store relocation and restructuring.

During the year we opened a further three stores:

- Chermside (Brisbane) in September 2012

- Moorabbin (Melbourne) in March 2013

- Homebush (Sydney) in July 2013

We also closed in Miranda (Sydney) in July 2013 due to Mall refurbishment. Since balance date we have closed a non contributing store at Geelong.

Click here to read full results

Hallenstein Glasson

Must ReadView All

Textiles | On 27th Apr 2017

UL joins ZDHC programme

UL Consumer & Retail Services (CRS), a global safety science company, ...

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Interviews View All

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Smita Murarka

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search