Hellaby Holdings says its full year earnings could be as much as 25% below last year, as the deteriorating economy impacts all of its four divisions.
Unless trading conditions significantly improve, the investment group says it expects gross earnings to be between $30 - $36 million in the year to June, compared to $40.6 million last year.
It forecasts a net profit of $8 - $11 million, which would still be an increase on last year's result of $4.7 million, which was affected by writedowns associated with its sale of the BBQ factory.
Managing director John Williamson says the tractor tyre division is doing well, but retail and distribution businesses are having a reasonably tough time.
