Hellaby Holdings is expecting a slow but steady improvement in its markets.
The investment concern, which owns chains selling automotive supplies, shoes, petfood, footwear, packaging and heavy construction equipment, made a profit of $2.3 million in the six months to December.
It made $400,000 in the same period the previous year.
Managing director John Williamson says cost cutting and restructuring has put the businesses in a good position to take advantage of pickups in the market.
Total net debt was at $96.9 million at the end of the year - down by a third, compared with the same period last year.
