HB profit rises 22 per cent

Press, 12 March 1983, Page 18

HB profit rises 22 per cent

The group tax-paid profit of Hallenstein Bros. Ltd. rose 21.7 per cent to $1,220,256 in the six months ended February 1, the directors announced yesterday. Sales increased 20.4 per cent, from $18.5 million to $22.3 million. Provision for tax has been made of $997,846 dollars ($844,771). An unchanged interim dividend of 9c, payable on March 31, 1983, was announced by the directors; 6c of this will be tax free, paid from the share premium account. Commenting on the interim result, the chairman, Mr E. M. Friedlander, described it as “generally gratifying, considering the depressed state of the economy during the period.” “Our trading policy in this

static marketplace has been to specialise within our market segment, and to identify the areas of highest potential profit in our market mix. An intensive programme of staff training together with a wholehearted effort to provide improved standards of customer service have combined, I believe, to give us the competitive edge on the shop floor.” Because of the increasing distortions created by the difficult rules imposed on the retail sector by the price freeze, he could only take a cautious outlook on the second half of the year, Mr Friedlander said. “However, the results achieved so far indicate that whatever the trading conditions are, we will make the best of our opportunities.”