Biz briefs: Hellaby's higher profit

Last updated 10:54 26/05/2014

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Profit upgrate for Hellaby

Operating profit for Hellaby Holdings is expected to be about $54 million, 43 per cent higher than last year, the investment company says.

Projected net profit after tax is expected to be about $25m, about 35 per cent higher than last year.

The higher forecasts reflect better year-on-year profit performances by four of the firm's five divisions, the exception being footwear, Hellaby managing director John Williamson said.

Hellaby, an NZX-listed investment holding company with a portfolio of 15 industrial, distribution and retail businesses, will release its results for the year to June 30 in late August.

Pacific Edge signs US deal

Pacific Edge today announced a new North American deal designed to boost sales of its bladder cancer detection system, known as Cxbladder.

The NZX-listed company said it had signed an agreement for diagnostics laboratory, testing with United States national provider network MultiPlan Inc.

Dunedin-based Pacific Edge said the agreement included Pacific Edge's participation in the MultiPlan, PHCS and PHCS Savility Networks, which would mean the Cxbladder test became more widely available to US consumers.

Pacific Edge's shares were boosted on previous announcements of these deals and this morning were trading 6 cents higher at $1.05.

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