28 Aug 2012

Hellaby looking for 'right' targets to buy

7:27 am on 28 August 2012

Hellaby Holdings is confident it will buy more businesses in this financial year.

The investment company owns Number One Shoes and Hannahs, as well as packaging, automotive and equipment businesses.

Hellaby Holdings made a profit of $19.3 million in the year to June, up 26% on the previous period. Revenue rose 6.1% to about $497.7 million.

Chief executive John Williamson said the company is being patient and selective about the finding the right acquisitions.

"We've looked at a number of potential acquisition over the past 12 months," Mr Williamson said. "We haven't yet secured a target".

"We're looking for businesses in defined sectors ... for example in the automotive parts and packaging sectors".