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Hallenstein sales up 7% in first four months, profit ahead of 2012

Hallenstein Glasson Holdings, the clothing chain, said sales in the first four months of the year are up 7% and profit is ahead of the same period last year.

"While this is a good start, the success of the first half of our financial year hinges on our December trade," chairman Warren Bell told shareholders at their annual meeting in Auckland today.

"We are well positioned and will make every endeavour to ensure we enjoy strong trade over this all-important trading period.

In September, the Auckland-based company posted a 15% to $21 million, exceeding its own guidance.

The shares rose 0.2% to $5.09 on the NZX today and have soared 45% this year.

The shares are rated a "hold" based on the consensus of five analysts polled by Reuters with a price target of $4.60.

(BusinessDesk)