28 Feb 2012

Hellaby Holdings on the lookout for buys

7:30 am on 28 February 2012

Hellaby Holdings says its feeling better about the economic outlook and remains on the lookout for acquisitions.

The investment company owns footwear retailers Number One Shoes and Hannahs and also operates packaging, automotive and equipment businesses.

The firm made $7.8 million in the final six months of 2011 - 42% more than in the same period in 2010.

Hellaby Holdings' chief executive John Williamson says the equipment business reported a very strong pickup in both sales and profit, which indicates some firms are prepared to spend more.

He says the company has not given specific guidance for the full financial year, but he feels more positive about the second half.

He says the company remains on the lookout for acquisitions on both sides of the Tasman, particularly in the automotive or packaging sectors.