Clothing retailer Hallenstein Glassons Holdings Ltd on Tuesday reported a 0.9 per cent rise in full-year net profit to NZ$11.4 million. A modest growth in sales revenue was posted, up 4.3 percent to $167.29 million compared to $160.39 million in 2000.

The company said its figures were boosted by strong sales over the Christmas period, and that these offset sales in the first half of the year, which were slightly below budget.
Looking ahead, the company said terrorist attacks on the US, and possible military reprisals, have not been "helpful to consumer spending confidence. The impact on the company's business is difficult to determine at present."

The New Zealand based business operates Hallenstein, Glassons and HBK brand stores in Australia and New Zealand.The Hallenstein menswear chain and the Glassons stores, which specialise in women's clothing, are building a "critical mass" in New South Wales and Victoria, the company said.

A review of its children's clothing chain HBK in the first half of the year resulted in the stores being converted into girls-only clothing outlets. The boys clothing lines are being transferred to the Hallenstein chain. The company also moved its head office to a new distribution facility as part of an ongoing efficiency drive.