WELLINGTON, Sept 27 (Reuters) - New Zealand clothing retailer Hallenstein Glasson Holdings Ltd reported a 53 percent rise in full year profit on Monday on improved sales and margins.
The company said net annual profit for the year to August 1 was NZ$19.6 million ($14.4 million) compared with NZ$12.8 million last year.
Last month it said it expected profit before tax to increase by about 56 percent during the year, as margins grew on an improved range of products and profit margins, less aggressive discounting, and a stronger New Zealand dollar.
However the company said the retail environment remained difficult, and it would be difficult to improve sales and margins in the current year.
Hallenstein Glasson declared a dividend of 17 cents per share, compared with 11 cents last year.
Shares in Hallenstein Glasson closed on Friday at NZ$4.12 and have risen around 23 percent so far this year compared with 0.5 percent fall in the benchmark NZSX-50 index.
($1=NZ$1.36)
(Reporting by Adrian Bathgate)
((adrian.bathgate@reuters.com; +64-4-4714233; Reuters Messaging: adrian.bathgate.reuters.com@reuters.net)) Keywords: HALLENSTEINS/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The company said net annual profit for the year to August 1 was NZ$19.6 million ($14.4 million) compared with NZ$12.8 million last year.
Last month it said it expected profit before tax to increase by about 56 percent during the year, as margins grew on an improved range of products and profit margins, less aggressive discounting, and a stronger New Zealand dollar.
However the company said the retail environment remained difficult, and it would be difficult to improve sales and margins in the current year.
Hallenstein Glasson declared a dividend of 17 cents per share, compared with 11 cents last year.
Shares in Hallenstein Glasson closed on Friday at NZ$4.12 and have risen around 23 percent so far this year compared with 0.5 percent fall in the benchmark NZSX-50 index.
($1=NZ$1.36)
(Reporting by Adrian Bathgate)
((adrian.bathgate@reuters.com; +64-4-4714233; Reuters Messaging: adrian.bathgate.reuters.com@reuters.net)) Keywords: HALLENSTEINS/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.