Hallenstein Glasson Holdings are reporting another successful year with a big jump in online sales. The retailer has reported a profit growth of 26 percent in 2017. The company has said that online sales have grown 44 percent which represents a total of 9 percent of turnover. This growth is much greater than that of bricks and mortar stores.

Australia’s retail market is in a very tough stage however Glassons sales have still risen a respectable 22 percent to $50 million. They intend to open two more stores in Melbourne’s CBD to increase it’s presence in the Australian market.

Hallenstein Brothers has had a 1.9 percent increase in growth and this should improve with the opening of three more stores.

The company’s sales rose to an incredible $239 million dollars compared to $225 million dollars in the previous year.Net profit was $17.3 million compared to $13.7 million the previous year. This profit was within the guidance of $17 million to $17.5 million. Last year’s profit was inhibited by the fall in the New Zealand dollar making the cost of imports increase.

With this result, the company has set a 17 cent per share final dividend which is 0.5 cents up from last years dividend of 16.5 cents. This marks a full years dividend of 31.5 cents.

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