Hellaby Holdings first half profit up 8 percent

Hellaby's after-tax profit was $6.12 million for the six months ended December, while its pre-tax profit was up 13 percent at $8.4 million.

Earnings per share increased to 25.2c from 23.1c in the same period the previous year, and the company's asset backing rose to $1.67 per share from $1.56 per share.

"The result reflects significantly increased profit contributions from Hellaby's subsidiaries in the automotive and industrial equipment sectors, with both Brake & Transmission and AB Equipment recording healthy profit increases," the company said in a statement today.

The contribution from Hellaby's retail interests Hannahs and Rodd & Gunn increased marginally, though the retail environment in the fashion sector remained "difficult".

After balance date, this month AB Equipment bought Liftec Transport Equipment for about $1.8 million which is expected to increase AB Equipment's annual sales by up to $10 million.

"Trading conditions since 31 December have remained strong for most of the Hellaby group, and if these conditions continue Hellaby expects earnings for the full year to exceed last year's result," the company said.

Hellaby's annual profit last year of $14.1 million was up almost 10 percent on the previous year.

The company will pay an interim dividend of 11c per share, up 3cps from the same period the previous year.

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