Hellaby first-half profit falls 21 percent on weaker shoe sales, corporate costs

Tue, 19 Feb 2013

Feb 19 (BusinessDesk) – Hellaby Holdings, the diversified investment company, posted a 21 percent drop in first-half profit on weaker earnings from its shoe stores and higher corporate costs, and forecast a decline in annual profit. Profit fell to $6.2 million in the six months ended Dec 31, from $7.8 million a year earlier, the Auckland-based company said in a statement. Sales rose 1 percent to $245.6 million. Profit and sales missed the $9.3 million and $254 million respectively that were forecast by Forsyth Barr analyst John Cairns, whil...

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