Hellaby Holdings has lifted its half year profit by 42% and remains on the lookout for acquisitions.
Hellaby owns footwear retailers Number One Shoes and Hannahs and also operates packaging, automotive and equipment businesses.
It made $7.8 million in the final six months of 2010, 42% more than in the same period a year earlier.
Hellaby Holdings' chief executive John Williamson said it was an excellent result given the sluggish market conditions.
He said the profit increase came off a very low base, with the economy having contracted, but for his business it was a very good bounce back.