Hellaby anticipates strong recovery when delayed oil contracts come on stream

Sun, 21 Feb 2016

By Sophie Boot Feb. 22 (BusinessDesk) - Hellaby Holdings is picking a strong recovery in its oil and gas services segment when a series of delayed contracts come on stream. The diversified investment company on Friday posted a 65 percent drop in first-half profit to $4.7 million, but says a pickup in the second half will result in a full-year profit broadly in line with last year's $23.4 million. Chief executive Alan Clarke told BusinessDesk the 12-year low oil prices meant refineries have pushed out work to take advantage of fat margi...

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