Hallenstein Glassons holds steady

Profit for the interim period was $5.96 million compared with $5.91 previously.

The company says it had a strong December in the lead up to Christmas, helping to nudge the gross trading margin for the summer to 43%, just above last year's 42% figure.

The improvement follows a downturn reported last year for the four months ended November when sales were below par compared with the same period in 1999. Sales for the period ended up at $83.7 million, one million dollars above last year's result.

During summer the company says its Glassons business opened two new Sydney stores and a Hallensteins store in Melbourne.

Its HBK stores, aimed at the childrens' market, have all been converted to now offer all girls products, with boyswear shifted back to Hallensteins stores.

Longer term, the company says it remains focussed on competing aggressively in the fashion apparel market, and
capitalising on the growth opportunities presented to it.

A dividend of 9 cents per share has been declared , although the company's director have pointed out that future dividends will continue to be based on the trading performance and financial strength of the company, and any growth opportunities it may be evaluating.

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