The improved profit margins are likely to result in profits rising as high as 55 to 57%, says Retailer Hallenstein Glassons.

Hallenstein Glasson Holdings was reportedly formed after the unification of Hallensteins and Glassons on the year 1985. Hallensteins, established in 1873, was an iconic menswear retailer whereas Glassons, found in 1900 was a fashion retailer.

The operator of the Hallensteins, Glassons and Storm have finally exposed that the sales had risen by 4.5% to $207.14 million. This was the rise in year ending August 1.

The investors therefore have come forward to buy the shares, as the Company announced a good turnover, as a result of its business management during the difficult business conditions.

In the second half, the group is also predicting a rise in sales by 2.3%. The Company said, "The increase in profit is directly attributable to an improvement in gross margin on sales".

The past six months have been a witness to the increase in shares in Australian Dollar terms, by 3.35%. Managing 25 of the 110 stores in Australia, the Company has enlarged its sales.

The report is however contradictory to the update made yesterday by the Kathmandu Holdings.