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Hallenstein same store sales rise in Australia
15 Sep '05
2 min read
Auckland, New Zealand based fashion retailer Hallenstein Glasson announced the full year results.
Growing success in Australia topped off a memorable year for fashion retailer Hallenstein Glasson, which lifted audited after tax profit by 12.4 percent to $19.297 million (2004:$17.167 million) for the 12 months ending 1 August 2005. After adjusting for a one off gain on the sale of property of $1.012 million last year, profit from trading lifted 19.5 percent.
This lifted earnings per share by 3.6 cents to 32.7 cents.
Directors have announced a final, fully imputed dividend of 17 cents (14 cents last year) bringing the full year's dividend to 30cents, up 6 cents or 25 percent.
Chairman Warren Bell stated that the company's strong financial performance demonstrates that it had got the retail formulae right for the quite separate New Zealand and Australian markets, and that the potential for future growth in both countries, particularly Australia, was “encouraging”.
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For the second straight year, trading profit showed double digit improvement – plus 41 percent in 2004 excluding a $1 million property gain, and plus 19.5 percent this year. New Zealand delivered yet another excellent result, with an after tax trading profit contribution of $18.985 million, up 16 percent.
In Australia they posted an after tax profit of $312,000 (compared to last year's loss of $261,000). While still modest, they have now traded profitably in Australia for three consecutive six-month periods, and the last six month performance has shown continued improvement.
Growing success in Australia topped off a memorable year for fashion retailer Hallenstein Glasson, which lifted audited after tax profit by 12.4 percent to $19.297 million (2004:$17.167 million) for the 12 months ending 1 August 2005. After adjusting for a one off gain on the sale of property of $1.012 million last year, profit from trading lifted 19.5 percent.
This lifted earnings per share by 3.6 cents to 32.7 cents.
Directors have announced a final, fully imputed dividend of 17 cents (14 cents last year) bringing the full year's dividend to 30cents, up 6 cents or 25 percent.
Chairman Warren Bell stated that the company's strong financial performance demonstrates that it had got the retail formulae right for the quite separate New Zealand and Australian markets, and that the potential for future growth in both countries, particularly Australia, was “encouraging”.
Click here to see more details:
For the second straight year, trading profit showed double digit improvement – plus 41 percent in 2004 excluding a $1 million property gain, and plus 19.5 percent this year. New Zealand delivered yet another excellent result, with an after tax trading profit contribution of $18.985 million, up 16 percent.
In Australia they posted an after tax profit of $312,000 (compared to last year's loss of $261,000). While still modest, they have now traded profitably in Australia for three consecutive six-month periods, and the last six month performance has shown continued improvement.
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