Investment company Hellaby Holdings has upgraded its profit forecast by 35 percent.
The company, which owns industrial services, automotive, equipment and packaging, and footwear companies, is forecasting a profit of $25 million for the year to June, which would be about 35 percent higher than last year's result.
Gross earnings would rise 43 percent to about $54 million.
Most of the increase comes from recent acquisitions, Contract Resources, Federal Batteries and Dasko Marketing in the auto parts sector, and New Zealand Trucks in the heavy equipment market.
But managing director John Williamson says the upgrade also reflects improved performances in all its divisions except the Hannahs and Number One Shoes footwear operations.
Mr Williamson says its industrial services firm Contract Resources, will turn in lower than expected gross earnings of $15 million for the June year, due to the deferral of projects in Australia and the Middle East, though he's confident it's on track to meet the coming year's forecast of $20 million.