HGH Ltd Results for the 6 months ended 1 February 2024

Distribution Notice





Please note: all cash amounts in this form should be provided to 8 decimal places

Section 1: Issuer information
Name of issuer Hallenstein Glasson Holdings Limited
Financial product name/description Ordinary Shares
NZX ticker code HLG
ISIN (If unknown, check on NZX
website)
NZHLGE 0001S4
Type of distribution
(Please mark with an X in the
relevant box/es)
Full Year Quarterly
Half Year X Special
DRP applies
Record date 11/4/2024
Ex-Date (one business day before the
Record Date)
10/4/2024
Payment date (and allotment date for
DRP)
18/4/2024
Total monies associated with the
distribution
1

$14,315,775 based on the number of units on issue at
the date of the form
Source of distribution (for example,
retained earnings)
Retained Earnings
Currency NZD
Section 2: Distribution amounts per financial product
Gross distribution
2
$0.28191181
Gross taxable amount
3
$0.28191181
Total cash distribution
4
$0.24000000
Excluded amount (applicable to listed
PIEs)
$0.00000000
Supplementary distribution amount $0.01901883
Section 3: Imputation credits and Resident Withholding Tax
5

Is the distribution imputed Partial imputation



1
Continuous issuers should indicate that this is based on the number of units on issue at the date of the form
2
“Gross distribution” is the total cash distribution plus the amount of imputation credits, per financial product, before the deduction of
Resident Withholding Tax (RWT).
3
“Gross taxable amount” is the gross distribution minus any excluded income.
4
“Total cash distribution” is the cash distribution excluding imputation credits, per financial product, before the deduction of RWT.
This should include any excluded amounts, where applicable to listed PIEs.
5
The imputation credits plus the RWT amount is 33% of the gross taxable amount for the purposes of this form. If the distribution is
fully imputed the imputation credits will be 28% of the gross taxable amount with remaining 5% being RWT. This does not constitute
advice as to whether or not RWT needs to be withheld.

If fully or partially imputed, please
state imputation rate as % applied
6

14.87%
Imputation tax credits per financial
product
$0.04191181
Resident Withholding Tax per
financial product
$0.05111909
Section 4: Distribution re-investment plan1 (if applicable)
DRP % discount (if any)
N/A
Start date and end date for
determining market price for DRP

Date strike price to be announced (if
not available at this time)

Specify source of financial products to
be issued under DRP programme
(new issue or to be bought on market)

DRP strike price per financial product

Last date to submit a participation
notice for this distribution in
accordance with DRP participation
terms

Section 5: Authority for this announcement
Name of person

authorised to make
this announcement
Cameron Alderton
Contact person for this
announcement
Cameron Alderton
Contact phone number +64 22 394 5785
Contact email address cameron@glassons.com
Date of release through MAP

28/03/2024





6
Calculated as (imputation credits/gross taxable amount) x 100. Fully imputed dividends will be 28% as a % rate applied.

---

Results Announcement



Results for announcement to the market
Name of issuer Hallenstein Glasson Holding Limited
Reporting Period 6 months to 1 February 2024
Previous Reporting Period 6 months to 1 February 2023
Currency NZD
Amount (000s) Percentage change
Revenue from continuing
operations
$222,954 -0.2%
Total Revenue $222,954 -0.2%
Net profit/(loss) from
continuing operations
$21,146 +1.5%
Total net profit/(loss) $21,146 +1.5%
Interim Dividend
Amount per Quoted Equity
Security
$ 0.24
Imputed amount per Quoted
Equity Security
$0.04191181
Record Date 11 April 2024
Dividend Payment Date 18 April 2024
Current period Prior comparable period
Net tangible assets per
Quoted Equity Security
$1.71 $1.55
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
For further information refer to the attached:
 Group CEO’s announcement
 Interim financial statements
Authority for this announcement
Name of person

authorised
to make this announcement
Cameron Alderton
Contact person for this
announcement
Cameron Alderton
Contact phone number + 64 22 394 5785
Contact email address c
ameron@glassons.com

Date of release through MAP

28 March 2024

Unaudited interim financial statements accompany this announcement.

---

28 March 2024 
 
HALLENSTEIN GLASSON HOLDINGS LIMITED  
 
UNAUDITED RESULTS FOR 6 MONTHS ENDED 1 FEBRUARY 2024 
 
The Company advises that unaudited total Group sales for the six months to 1 February 2024 were 
$223.0 million, compared to $223.3 million in the prior corresponding period. Group unaudited net 
profit after tax (NPAT) was $21.1 million, an increase of 1.5% over the corresponding period last year 
($20.8 million). The
 result is in line with the guidance announced to the NZX on 22 February 2024. 
 
Gross margin on sales was 58.9% compared with 56.5% in the prior corresponding period.  The 
improved profitability at the margin level has been driven by ongoing sourcing benefits with our 
long‐standing supplier relationships, and
 the development of new relationships to diversify our 
supplier base.  Net freight costs reduced throughout the period leading to a reduced landed cost of 
product.  Inventory management has been improved, with lower clearance levels year on year 
reducing overall discounting.  These factors have assisted us in improving margin while continuing 
to 
manage a strong US Dollar exchange rate throughout the half. 
 
During the six months to 1 February 2024 there was a continued focus on operating cost efficiency 
given the high inflationary environment.  Inventory levels were tightly controlled and ended the 
period lower than both the prior corresponding period and 
the prior year end.  This gives the Group 
the flexibility to adjust to the trading environment and trends as the market evolves. 
 
The balance sheet remains in a strong position with improved working capital compared to the prior 
corresponding period and significant cash reserves. 
 
Consistent with the 1 August 2023 
financial statements, the below segment results include a change 
in methodology for intercompany charges to reflect brand value provided by New Zealand for the 
benefit of Australia, internal procurement and management services. While not affecting Group 
profit before income tax, these charges have impacted profit of the segments reported and are
 
therefore not directly comparable to the prior corresponding period segment results.  
 
Segment Results  
 
Glassons 
 
Sales in Australia were $107.1 million for the six‐month period, which were up +4.1% against the 
prior corresponding period. Despite difficult market trading conditions, we experienced growth 
throughout the half, particularly in the key Black Friday and Christmas trading periods.  Net profit 
after tax was $10.9 million. 
 
During the season a new store was opened in Knox, Victoria.  Post reporting period, a second store 
in Adelaide has been opened in Rundle Mall in March. Further store refurbishments are planned for 
the second half of the financial year as we continue to assess potential new sites throughout 
Australia which
 meet our commercial requirements. 

 
 
Sales in New Zealand were $57.1 million, which were down ‐5.8% against the same period last year, 
reflective of a tougher trading environment compared to Australia.  Net profit after tax was $5.7 
million. Following a challenging first quarter, it was pleasing to see a strong Christmas trading period, 
with a return
 to sales growth in physical stores in the second quarter.  
 
During the season the Albany store was relocated to an improved location driving improved 
performance, and our Christchurch CBD store was relocated and opened in November 2023. The 
Blenheim store was closed at the end of October 2023.   
 
Despite 
the challenging economic environment, particularly in New Zealand, Glassons continues to 
refine and adapt to changing market conditions, bringing relevant and desirable product at speed to 
market. Australia remains a focus growth market, as we continue to increase our brand awareness 
and penetration. 
 
Hallenstein Brothers  
 
Sales were $58.8 million for the six‐month period (including Australia), with sales declining ‐1.7% 
against the same period last year, however at a significantly improved gross margin at 58.8%, 
+440bps.  Net profit after tax was $4.5 million, an increase of +24.6% on the prior corresponding 
period ($3.6 million).  During the
 season, our new store concept design was rolled out in the 
Manukau store and delivered strong growth. Our Garden City store in Queensland, Australia moved 
to a new location and opened in November 2023, and a new pop‐up store in Robina, Gold Coast was 
opened in the lead up 
to Christmas. 
 
E‐Commerce  
 
Digital sales have decreased slightly to 17.3% of total Group sales for the six‐month period, down 
from 18.1% in the same period last year. Customers have continued to return to the physical in‐store 
experience which has seen the demand for online shopping normalise compared to the prior period, 
although
 well above pre‐pandemic levels.  There is a continued focus on digital marketing across the 
Group to drive engagement across all channels and ensure that customers enjoy a true omnichannel 
experience.  The Glassons App continues to be very successful, while significant work has been 
undertaken on both the Hallensteins and 
Glassons web shops to improve the look and the customer 
experience. 
 
Dividend  
 
The Directors have declared an interim dividend of 24 cents per share (partially imputed at 45%) 
(last year 24 cents per share partially imputed at 45%) to be paid on 18 April 2024.  The dividend 
payment is able to be maintained due to the strong balance sheet and inventory position.  
 
Future Outlook 
 
Overall trading for the beginning of the winter season has been positive, with Group sales for the 
first seven weeks +8.3% ahead of the same period last year.  We have benefitted from a number of 
events, festivals and major international acts performing in New Zealand and Australia, supporting 

 
demand for our product ranges across both Glassons and Hallensteins. Full year to date sales are 
now 1.4% ahead of the same time last year. 
 
Whilst this is a pleasing start to the winter season, we are conscious of the significant challenges that 
are expected to continue for the remainder of the financial year given the current economic 
environment in New Zealand, Australia and globally. Given the current circumstances we do expect 
the Australian trading environment
 to remain stronger than that of New Zealand. Cost efficiencies 
are being made where possible.  
 
We will maintain our focus on delivering fashionable, on‐trend, high quality products to our 
customers, and progressing on our sustainability program.  In addition, ongoing investment in our 
people, digital experiences and physical stores will 
position us well to adapt to the market changes 
ahead.  
 
 
Chris Kinraid 
Group CEO

---

STATEMENT OF COMPREHENSIVE INCOME
For the six months ended 1 February 2024 (unaudited)
1




Note
SIX MONTHS
ENDED
1/2/24
SIX MONTHS
ENDED
1/2/23
$000
$000
Sales revenue222,954
223,293
Cost of sales
(91,707)
(97,087)
Gross profit131,247
126,206
Other operating income
122
124
Selling expenses
(75,398)
(72,127)
Distribution expenses
(7,583)
(7,283)
Administration expenses
(17,470)
(16,329)
Total expenses2.2 (100,451)
(95,739)
Operating profit30,918
30,591
Finance income
895
501
Finance expense
(1,963)
(1,579)
Profit before income tax29,850
29,513
Income tax expense
(8,704)
(8,688)
Net profit after tax attributable to the shareholders of the Holding Company21,146
20,825
Other comprehensive income
- Items that will not be reclassified to profit or loss
Increase in share option reserve
36
73
- Items that may be subsequently reclassified to profit or loss
Fair value loss (net of tax) in cash flow hedge reserve
(983)
(3,774)
Total comprehensive income for the year
20,199
17,124
Earnings per share
Basic and diluted earnings per share
35.45
34.91
The notes to the financial statements form an integral part of and are to be read in conjunction with these financial statements.
Group

STATEMENT OF FINANCIAL POSITION
As at 1 February 2024 (unaudited)
2



Note As at 1/2/24
As at 1/2/23 As at 1/8/23
$000
$000$000
EQUITY
Contributed equity
28,892
27,805 28,140
Asset revaluation reserve
26,526
24,894 26,526
Cashflow hedge reserve
16
(3,142) 999
Share option reserve
95
301 294
Retained earnings
47,407
43,403 40,362
Total equity102,936
93,261 96,321
Represented by
CURRENT ASSETS
Cash and cash equivalents
43,011
36,164 32,478
Trade and other receivables
555
213 318
Advances to employees
695
189 160
Prepayments
5,133
5,399 5,431
Taxation Receivable
1,481
- -
Inventories
322,765
28,472 31,005
Derivative financial instruments
594
38 1,452
Total current assets74,234
70,475 70,844
NON-CURRENT ASSETS
Property, plant and equipment
459,608
53,198 56,367
Right of use assets
63,896
64,641 65,285
Investment property
3,208
3,372 3,208
Intangible assets
913
648 717
Deferred tax
7,068
9,457 6,148
Total non-current assets134,693
131,316 131,725
Total assets208,927
201,791 202,569
CURRENT LIABILITIES
Trade payables
9,154
7,962 8,104
Employee benefits
8,552
8,425 7,294
Other payables
11,318
10,913 13,888
Lease liabilities
25,361
24,308 25,147
Derivative financial instruments
572
4,456 47
Taxation payable
-
424 590
Total current liabilities54,957
56,488 55,070
NON-CURRENT LIABILITIES
Lease liabilities
51,034
52,042 51,178
Total liabilities105,991
108,530 106,248
Net assets102,936
93,261 96,321
The notes to the financial statements form an integral part of and are to be read in conjunction with these financial statements.

STATEMENT OF CHANGES IN EQUITY
For the six months ended 1 February 2024 (unaudited)
3



SHARE
CAPITAL
TREASURY
STOCK
ASSET
REVALUATION
RESERVE
CASH FLOW
HEDGE
RESERVE
SHARE
OPTION
RESERVE
RETAINED
EARNINGS
TOTAL
EQUITY
$000$000$000$000$000$000$000
Balance at 1 August 202229,279 (1,474) 24,894 632 228 36,894 90,453
COMPREHENSIVE INCOME
Profit for year - - - - - 20,825 20,825
Cash flow hedges net of tax - - - (3,774) - - (3,774)
Increase in share option reserve - - - - 73 - 73
Total comprehensive income
- - - (3,774) 73 20,825 17,124
TRANSACTIONS WITH OWNERS
Dividends - - - - - (14,316) (14,316)
Total transactions with owners
- - - - - (14,316) (14,316)
Balance at 1 February 202329,279 (1,474) 24,894 (3,142) 301 43,403 93,261
COMPREHENSIVE INCOME
Profit for year - - - - - 11,152 11,152
Revaluation net of tax - - 1,632 - - - 1,632
Cash flow hedges net of tax - - - 4,141 - - 4,141
Increase in share option reserve - - - - 62 - 62
Total comprehensive income
- - 1,632 4,141 62 11,152 16,987
TRANSACTIONS WITH OWNERS
Sale of treasury stock - 303 - - - - 303
Transfer of share option reserve to
retained earnings - - - (69) 69 -
Dividends - 86 - - - (14,316) (14,230)
Gain/loss on sale of treasury stock
transferred to retained earnings - (54) - - - 54 -
Total transactions with owners
- 335 - - (69) (14,193) (13,927)
Balance at 1 August 2023
29,279 (1,139) 26,526 999 294 40,362 96,321
COMPREHENSIVE INCOME
Profit for year
- - - - - 21,146 21,146
Cash flow hedges net of tax
- - - (983) - - (983)
Increase in share option reserve
- - - - 36 - 36
Total comprehensive income - - - (983) 36 21,146 20,199
TRANSACTIONS WITH OWNERS
Sale of treasury stock
- 141 - - - - 141
Transfer of share option reserve to
retained earnings
- - - - (235) 235 -
Dividends
- 18 - - - (14,316) (14,298)
Transfer to employee advances
- 573 - - - - 573
Gain/loss on sale of treasury stock
transferred to retained earnings
- 20 - - - (20) -
Total transactions with owners - 752 - - (235) (14,101) (13,584)
Balance at 1 February 202429,279 (387) 26,526 16 95 47,407 102,936
The notes to the financial statements form an integral part of and are to be read in conjunction with these financial statements.

STATEMENT OF CASH FLOWS
For the six months ended 1 February 2024 (unaudited)
4



SIX MONTHS
ENDED 1/2/24
SIX MONTHS
ENDED 1/2/23
$000
$000
CASH FLOWS FROM OPERATING ACTIVITIES
Cash was provided from:
Sales to customers
222,717
223,546
Rent received
122
124
Government grants
-
165
Interest received
892
498
Interest on debtors
3
3
223,734
224,336
Cash was applied to:
Payments to suppliers
123,750
140,277
Payments to employees
41,636
39,232
Interest paid on leases
1,963
1,579
Taxation paid
11,294
8,242
178,643
189,330
Net cash flows from operating activities45,091
35,006
CASH FLOWS FROM INVESTING ACTIVITIES
Cash was provided from:
Proceeds from sale of property, plant, equipment and intangible assets
67
30
Repayment of employee advances
38
53
105
83
Cash was applied to:
Purchase of property, plant, equipment and intangible assets
9,401
7,873
9,401
7,873
Net cash flows applied to investing activities(9,296)
(7,790)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash was provided from:
Proceeds from sale of treasury stock and dividends
159
-
159
-
Cash was applied to:
Dividend paid
14,316
14,316
Lease liability payments
11,105
11,849
25,421
26,165
Net cash flows applied to financing activities(25,262)
(26,165)
Net increase in funds held10,533
1,051
Cash and cash equivalents at the beginning of the period32,478
35,113
Cash and cash equivalents at the end of the period43,011 36,164
The notes to the financial statements form an integral part of and are to be read in conjunction with these financial statements.

STATEMENT OF CASH FLOWS (CONTINUED)
For the six months ended 1 February 2024 (unaudited)
5


RECONCILIATION OF PROFIT AFTER TAXATION TO CASH FLOWS FROM OPERATING
ACTIVITIES


SIX MONTHS
ENDED 1/2/24
SIX MONTHS
ENDED 1/2/23
$000
$000
NET PROFIT AFTER TAXATION21,146
20,825
ADD/(DEDUCT) ITEMS CLASSIFIED AS INVESTING OR FINANCING ACTIVITIES
Loss/(gain) on sale of plant and equipment
13
(24)

ADD/(DEDUCT) NON CASH ITEMS
Depreciation and amortisation
18,504
18,331
Deferred taxation
(518)
(550)
Share option expense
36
73
Gain on termination of lease
(59)
-
ADD/(DEDUCT) MOVEMENTS IN WORKING CAPITAL ITEMS
Taxation payable
(2,071)
996
Trade and other receivables and prepayments
61
129
Trade and other payables and employee benefits
(261)
(9,743)
Inventories
8,240
4,969
NET CASH FLOWS FROM OPERATING ACTIVITIES45,091
35,006
The notes to the financial statements form an integral part of and are to be read in conjunction with these financial statements.

NOTES TO THE FINANCIAL STATEMENTS
For the six months ended 1 February 2024 (unaudited)
6


1 Basis of preparation of financial statements
This section presents a summary of information considered relevant and material to assist the reader
in understanding the foundations on which the financial statements as a whole have been compiled.

1.1 General information
Reporting entity
Hallenstein Glasson Holdings Limited (“Company” or “Parent”) together with its subsidiaries (the
“Group”) is a retailer of men’s and women’s clothing in New Zealand and Australia.
The Company is a limited liability company incorporated and domiciled in New Zealand. The address
of its registered office is Level 3, 235-237 Broadway, Newmarket, Auckland.

Statutory base
Hallenstein Glasson Holdings Limited is a company registered under the Companies Act 1993 and is
an FMC reporting entity under Part 7 of the Financial Markets Conduct Act 2013. The Company is
also listed on the New Zealand Stock Exchange (NZX). The financial statements of the Group have
been prepared in accordance with the requirements of Part 7 of the Financial Markets Conduct Act
2013 and the NZX Main Board Listing Rules.
The financial statements were approved for issue by the Board of Directors on 28 March 2024.

1.2 General accounting policies
Statement of compliance
These interim financial statements for the half year ended 1 February 2024 have been prepared in
accordance with Generally Accepted Accounting Practice in New Zealand (NZ GAAP), NZ IAS 34 and
IAS 34 Interim Financial Reporting and should be read in conjunction with the 2023 Annual Report.

Basis of preparation of financial statements
The accounting policies used in the preparation of these financial statements are consistent with
those used in the previously published interim financial statements to 1 February 2023, and the
audited financial statements to 1 August 2023.
The financial statements for the six months ended 1 February 2024 and 1 February 2023 are
unaudited. The comparative information for the year ended 1 August 2023 is audited.

Entities reporting
The financial statements are the Consolidated Financial Statements of the Group comprising
Hallenstein Glasson Holdings Limited and subsidiaries, together they are referred to in these financial
statements as the “Group”. The parent and its subsidiaries are designated as for-profit entities for
financial reporting purposes.

2 Performance information
2.1 Segment information
The Board of Directors considers the business from both a product and geographic perspective as
follows:
 Hallenstein Brothers (Hallenstein Bros Ltd (New Zealand) and Hallenstein Brothers Australia
Limited (Australia))
 Glassons Limited (New Zealand)
 Glassons Australia Limited (Australia)
 Hallenstein Properties Limited (New Zealand)
 Hallenstein Glasson Holdings Limited – Parent (New Zealand)

NOTES TO THE FINANCIAL STATEMENTS
For the six months ended 1 February 2024 (unaudited)
7



Segment results and key balances are shown below. Segment assets and liabilities are measured in
the same way as in the financial statements. Assets and liabilities are allocated based on the
operations of the segment.

During the six months ended 1 February 2024 and consistent with 1 August 2023 financial
statements, the below segment results include intercompany charges to reflect brand value provided
by New Zealand for the benefit of Australia, procurement services provided by New Zealand to
Australia, and management services provided by one related entity to another. These charges have
impacted on profit before income tax of the segments reported and are therefore not directly
comparable to the prior period segment results. These charges have been implemented based on
professional advice and are consistent with comparable industry benchmarks.

Segment results
For the six months ended
1 February 2024
GLASSONS
NEW ZEALAND
GLASSONS
AUSTRALIA
HALLENSTEIN
BROTHERS
HALLENSTEIN
PROPERTYPARENT
TOTAL
SEGMENTS
$000$000$000$000$000$000
INCOME STATEMENT
Segment revenue62,133 107,678 59,042 - 482 229,335
Intercompany segment revenue(5,006) (617) (276) - (482) (6,381)
Sales revenue from external customers57,127 107,061 58,766 - - 222,954
Cost of sales(25,908) (41,568) (24,231) - - (91,707)
Gross profit31,219 65,493 34,535 - - 131,247
Finance income133 348 335 - 79 895
Finance expenses(740) (650) (561) - (12) (1,963)
Depreciation and software amortisation5,603 7,508 5,088 262 43 18,504
Profit before income tax7,865 15,547 6,241 195 2 29,850
Income tax expense(2,206) (4,674) (1,769) (55) - (8,704)
Profit after income tax5,659 10,873 4,472 140 2 21,146
BALANCE SHEET
Current assets20,140 22,441 22,937 5,440 3,276 74,234
Non-current assets45,886 39,611 26,912 22,284 - 134,693
Current liabilities15,093 24,121 15,659 54 30 54,957
Non-current liabilities21,403 16,711 12,920 - - 51,034
Purchase of property, plant, equipment
and intangibles2,820 3,726 2,855 - - 9,401
For the six months ended
1 February 2023
GLASSONS
NEW ZEALAND
GLASSONS
AUSTRALIA
HALLENSTEIN
BROTHERS
HALLENSTEIN
PROPERTYPARENT
TOTAL
SEGMENTS
$000$000$000$000$000$000
INCOME STATEMENT
Sales revenue from external customers60,615 102,893 59,785 - - 223,293
Cost of sales(28,913) (40,868) (27,306) - - (97,087)
Gross profit31,702 62,025 32,479 - - 126,206
Finance income60 231 177 - 33 501
Finance expenses(599) (540) (435) - (5) (1,579)
Depreciation and software amortisation5,808 7,447 4,842 212 22 18,331
Profit before income tax4,888 19,341 5,006 246 32 29,513
Income tax expense(1,378) (5,814) (1,418) (69) (9) (8,688)
Profit after income tax3,510 13,527 3,588 177 23 20,825
BALANCE SHEET
Current assets15,037 25,709 22,215 5,241 2,273 70,475
Non-current assets45,533 39,289 24,501 21,992 1 131,316
Current liabilities15,835 24,811 15,477 328 37 56,488
Non-current liabilities22,578 17,597 11,867 - - 52,042
Purchase of property, plant, equipment
and intangibles1,035 5,497 1,340 1 - 7,873

NOTES TO THE FINANCIAL STATEMENTS
For the six months ended 1 February 2024 (unaudited)
8




2.2 Income and expenses
Profit before income tax includes the following specific expenses:

SIX MONTHS
ENDED 1/2/24
SIX MONTHS
ENDED 1/2/23
$000
$000
Occupancy costs
1
20,030
18,581
Wages, salaries and other short term benefits
40,638
38,546
Depreciation, amortisation and impairment of property, plant and equipment
5,882
5,036
Loss/(Gain) on sale of property, plant and equipment
13
(23)


1
Occupancy costs include rental expense on short term leases, depreciation, and interest expense on
right of use assets.
2.3 Dividend payments

SIX MONTHS
ENDED 1/2/24
SIX MONTHS
ENDED 1/2/23
SIX MONTHS
ENDED 1/2/24
SIX MONTHS
ENDED 1/2/23
cents/share cents/share$000
$000
Final dividend payment for the period ended 1 August 2023
24.00
-
14,316
-
Final dividend payment for the period ended 1 August 2022
-
24.00
-
14,316
Total24.00
24.00
14,316
14,316


3 Inventories
During the six months ended 1 February 2024, the Group recognised in the Statement of
Comprehensive Income, a write down of finished goods inventory to provide for obsolescence of
$115,000 (2023: $202,000).

4 Property, plant and equipment
Acquisitions and disposals
During the six months ended 1 February 2024, the Group acquired assets with a total cost of
$9,401,000 (2023: $7,873,000).
Assets with a net book value of $80,000 were disposed of during the six months ended 1 February
2024 (2023: $7,000).

5 Related party transactions
The Group enters into transactions with related parties. Details of related parties, and the types of
transactions entered into during the period ended 1 February 2024, are consistent with those
disclosed in the audited financial statements for the year ended 1 August 2023.

6 Events subsequent to balance date
Subsequent to the half year end, the Board has resolved to pay an interim dividend of 24.0 cents per
share (partially imputed at 45%) (2023 Interim Dividend: 24.0 cents partially imputed at 45%). The
dividend will be paid on 18
th
April 2024 to all shareholders on the Company’s register as at 5.00pm,
11
th
April 2024.