The owner of Glassons and Hallenstein Brothers says sales jumped almost 20 per cent, taking its year-end figure to $563 million.

It comes after the holding company for the fashion retailers warned of challenges in future financial growth despite a “pleasing” sales period. Hallenstein Glassons Holdings also expects pre-tax profits to fall between $83 million and $84.5 million for the 12 months ending August 31. This would be a 43.5 per cent increase on the previous year.

“The balance sheet for the group remains strong, and stock levels continue to be well controlled,” the group’s chairman, Warren Bell, said. 

These bumper results were led by a stronger Australian dollar. On a constant-currency basis, sales increased by 15.6 per cent over the previous year. 

The group operates 121 stores across New Zealand and Australia under its two retail brands, 75 of which are in New Zealand.

Bell previously told investors that geopolitical tension was creating an unpredictable business environment, citing possible impacts on consumer spending and foreign exchange.