28 Aug 2009

Better year expected for Hellaby Holdings

7:37 am on 28 August 2009

Hellaby Holdings expects significantly improved earnings for the year ahead.

Profit dropped sixfold to $700,000 after a $4.6 million writedown from the sale of the BBQ factory. Excluding that, profit rose 13% to $5.3 million.

Chief executive John Williamson says the company is now in better shape, reducing its total debt by a quarter to just over $100 million.

But, he says Hellaby Holdings is not seeing signs of a recovery just yet.