Hellaby profit plummets as revenue weakens, expects better second half

Thu, 18 Feb 2016

By Sophie Boot Feb. 19 (BusinessDesk) - Hellaby Holdings, the diversified investment company, posted a 65 percent drop in first-half profit with revenue from three of its four segments falling, but says it expects a better second half as it tries to sell its loss-making footwear division. Net profit fell to $4.7 million, or 5.1 cents per share, in the six months ended Dec. 31, from $13.5 million, or 13.1 cents, a year earlier, the Auckland-based company said in a statement. This was at the upper end of their forecast, the company said,...

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