Hellaby cuts guidance as resources unit hurt by refinery shutdowns, name new resources CEO

Sun, 29 May 2016

By Jonathan Underhill May 30 (BusinessDesk) - Hellaby Holdings cut its full-year guidance, saying earnings would fall because of the impact of refinery shutdowns on its resource services division, whose chief executive will step aside in favour of a new recruit. The announcement shows a predicted second-half rebound for the resources group, which undertakes oil refinery maintenance, didn't eventuate. Chief executive Alan Clarke had said crude oil prices at a 12-year low kept refineries open in the first half because of fatter margins, wit...

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