Investment firm Hellaby Holdings is continuing to make inroads into its bank debt.
The company, which owns firms selling automotive supplies, shoes, pet food, packaging and heavy construction equipment has focused on cutting debt in the last couple of years by reducing costs and restructuring its operations.
Managing director John Williamson says core bank debt stood at $25 million at the year to the end of June, a decrease of 51% on the same period a year ago.
He says total net debt has fallen 25% to about $75 million, including $50 million in capital notes due to mature in June.
The company doesn't intend to convert the notes to shares, he says, but hasn't decided whether to pay out on the notes, or roll them over, or a combination of both.
Hellaby's shares rose 8 cents to $1.60 on Wednesday morning trading.
