NZ's Hallenstein Glasson rises on positive FY results

Hallenstein Glasson Holdings

30/09/2024 03:07

** Shares of Hallenstein Glasson  HLG.NZ  rise as much as 4%
to NZ$6.45, their highest level since March 28
    **  The clothing retailer posts FY net profit after tax of
NZ$34.5 mln ($21.95 mln) versus NZ$32.0 mln in previous FY
    ** Co says net profit after tax includes a net non-cash
deferred tax expense of NZ$1.1 mln
    ** "This is a pleasing result given the difficult retail
environment in Australasia, and in particular New Zealand.",
says co on profit
    ** Adds, sales for the 12 months to Aug. 1, 2024 were
NZ$435.6 million, up 6.3% on the prior year
    ** About 25,900 shares change hands by 0159 GMT, 1.3 times
the 30-day average volume of shares
    ** Stock has risen 19.2% this year as of last close

($1 = 1.5716 New Zealand dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))