KEY POINTS:
Investment company Hellaby Holdings has reported a $4.7 million annual profit and said it is now focused on its automotive, equipment, packaging and footwear investments.
The profit compared with a deficit of $9.8m last year.
The company declared a 6c a share fully imputed final dividend payable on October 31.
Earnings before interest, tax, depreciation and amortisation rose 31 per cent to $46.8m. This excluded the results of the BBQ Factory sold on June 30.
Including the BBQ Factory Ebitda was $40.6m, up 19 per cent on $34m last year.
The company said its development of a clear portfolio strategy resulted in the divestment of several non-core investments, the most notable of which was BBQ Factory.
The company also reduced its bank debt.
Chairman Bill Falconer said the company was becoming a more focused "hands -on" manager of its investments.
"We are very pleased to report improved profit from each of the automotive, equipment and newly-created packaging divisions as well as the Hannahs footwear group. These results were achieved in relatively difficult trading environments," said Falconer.
BBQ Factory incurred a trading loss before interest and tax of $7.1m for the year, and also incurred a writedown of $12.6m before tax.
The result represents an after tax return of 5.5 per cent on average shareholder funds, compared with 10 per cent last year.
- NZPA
