NZ sharemarket ends day down but Hallenstein Glasson reports solid annual result
The S&P/NZX 50 Index reached an intraday high of 12,504.89 but fell in the flurry of the broker matching session, closing at 12,423.82 – down 33.59 points or 0.27%. A total of 65.04 million shares worth $294.3 million were traded.
Hallenstein Glasson increased 20c or 3.23% to $6.40 after reporting a 6.3% increase in revenue to $435.63m and net profit of $34.48m, up 7.9%, for the 12 months ending August 1. It is paying a 26.5c a share final dividend on December 13.
Gross margin increased to 59.4%, from 57.3c. Glassons Australia’s revenue was $218.1m, up 14.1%, and net profit was $19.5m, up 14%, while in New Zealand sales were $110.1m, down 2.1% and net profit was $10.8m, down 1%.
Hallensteins' total revenue was $107.5m, up 1.2%, and net profit was $5.3m, up 37.4%. Hallenstein Glasson said sales improved 10.9% in the first eight weeks of the new financial year compared with the same period last year, with good performance from the Australian market.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
