Trading Update and Profit Forecast

17 February 2021

Hallenstein Glasson Holdings Limited
Trading Update and Profit Forecast
The Company advises that total Group sales for the six-month period ended 1 February 2021 were
$182.0 million, an increase of 13.6% over the prior corresponding period ($160.3 million).
Group unaudited profit after tax is projected to be in the range of $19.5 million to $20.0 million, an
increase of approximately 28% over the prior year ($15.4 million).
During the half, trade in a number of stores continued to be disrupted by COVID 19. Eleven of the
Glassons Melbourne stores were closed from the start of the season until the 27
th
October. Also in
the greater Sydney area trade was affected by the recent Northern Beaches lockdown. In New
Zealand, thirteen Hallenstein Brothers stores and twelve Glassons stores were closed from 12
August to 31 August.
During the period, the results include rent relief across the Group relating to the lockdown periods
and Australian Government wage subsidies for Glassons Australia and Hallenstein Brothers Australia,
totaling $4.5 million. No New Zealand wage subsidies were received in this period.
Online sales continue to play an integral part and account for 24% of sales in the first half.
Following Auckland moving to Level 3 on the 15
th
February 2021, thirteen Hallenstein Brothers
stores and twelve Glassons stores are currently closed. In Melbourne there are eleven Glassons
stores closed with the recent lockdown from 12
th
February.
The balance sheet for the Group remains strong and stock levels continue to be well controlled.
A full announcement with financial statements for the six months ended 1 February 2021 including
dividend declaration will be released to the market on 26

March 2021.

Warren Bell
Chairman of Directors