Hancock & Gore Limited (ASX:HNG) Announces H1 FY25 Trading Update
Financial Performance
Hancock & Gore Limited reported a 3% increase in Global Uniform Solutions’ comparable sales for H1 FY25, reaching A$46 million, compared to the same period last year. Mountcastle’s Australian comparable schoolwear sales grew 8% to $20 million, while Schoolblazer achieved sales of A$12 million, up 15% on H1 FY24.
Operational Highlights
The integration of Schoolblazer is progressing well, with 19 new schools confirmed for the upcoming back-to-school period in the UK. The company is advancing discussions with private schools in Australia and New Zealand to implement Schoolblazer’s e-commerce model. GUS operations remain unaffected by recent tariff changes. Additionally, H&G has approved the scrip acquisition of the HCF portfolio, adding approximately $15.5 million in liquid net assets.
Dividend Declaration
Hancock & Gore Limited plans to declare a fully franked dividend of 1.0 cents per share with its half-year results in May 2025, subject to final audit review.
Executive Comments
Chairman Sandy Beard stated, “The merger with Schoolblazer has enhanced the energy, innovation and growth ambitions of the group. We appreciate that Schoolblazer Chairman Tim James and his team have embraced the new partnership and hit the ground running with strong performance.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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