NZ's Hallenstein Glasson gains on jump in FY earnings

Hallenstein Glasson Holdings

27/09/2019 01:55

** Shares of Hallenstein Glasson Holdings Ltd  HLG.NZ  rise
as much as 1.7% to NZ$6
    ** The retailer posts FY NPAT of NZ$29 mln ($18.22 mln), up
6.1% while sales come in at NZ$287.6 mln, up 3.4% Y/Y
 urn:newsml:reuters.com:*:nFWN26H0QG
    ** Co says results come even as margin pressures increased
due to lower USD exchange rate and promotional activity across
both Australia and NZ markets increased
    ** Says first eight weeks of new FY has seen group sales
grow 7.2% Y/Y
    ** More than 38,000 shares change hands, compared with the
30-day average volume of about 35,000
    ** Stock has risen ~41% this year as of last close


($1 = 1.5913 New Zealand dollars)

 (Reporting by Rashmi Ashok in Bengaluru)
 ((Rashmi.Ashok@thomsonreuters.com; +918067491689;))