Hallenstein Glasson (NZX:HLG) Lifts Profit By 28%

Hallenstein Glasson Holdings Limited (NZX:HLG) has released its trading update and profit forecast for the six months ending February 1, 2021.

  • Sales for the Group, across its Hallenstein Brothers and Glassons retail brands, is $182 million. This value represents a 13.6% increase over group sales in the previous corresponding period.
  • Net profit is forecasted to be between $19.5 to $20 million, 28% higher than net profit in the previous corresponding period ($15.4 million).
  • Online sales have helped to offset the loss in sales the group experiences with periodic closures of their retail stores in Australia. Online sales accounted for 24% of total sales for the group in this period.

On 17 February, at the time of writing, HLG shares were trading at $7.65, up 0.66% since the market opened this Wednesday morning.

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