Branded consumer goods supplier HGL is paying the price for passing on rather than pocketing the benefits of the stronger Australian dollar.
While sales volumes rose by 5 or 6 per cent in the six months ending March 31, revenues slipped 3 per cent to $81.8 million and net profit from the company’s remaining importing and wholesaling operations was flat at $4.1 million.
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Sue Mitchell writes the fortnightly Window Shopping column for the Financial Review and has covered retailing for over 30 years. Connect with Sue on Twitter. Email Sue at smitchell2045@gmail.com
