Hallenstein Glasson Holdings Limited Reports Sales Results for the Twelve Months Ended 1 August 2016; Provides Earnings Guidance for the Year Ended 1 August 2016
The company provided earnings guidance for the year ended 1 August 2016. For the year, net profit after tax is projected at approximately $13.5 million, a decrease of 22% on the prior year. A lower exchange rate has had a negative impact on gross margin which has fallen 3 basis points from 59.3% in the prior year to 56.5% in the current year.