Hellaby Shares fall on earnings drop

JASON KRUPP
Last updated 05:00 20/02/2013

Relevant offers

Industries

John Key: Taranaki's economic woes temporary Finance diary for the week starting May 25 Taking coffee to China 60 jobs 'being reviewed' at Light Leathers in Timaru Simon Bridges hoping to attract more electric and driverless cars to NZ Southern Response to get more Government money if needed Faster bank payments may encourage cyber-crime Stay safe, stay sexy in Confitex pants Cocktails and oysters in Air New Zealand's new Sydney Airport lounge Southern Cross Cable cuts a 'timely reminder': Tuanz

Diversified investment company Hellaby Holdings' share price fell almost 5 per cent yesterday after it posted a 20 per cent drop in first-half earnings due to executive pay and acquisition costs.

The firm reported a net profit of $6.2 million for the six months ending December 31, down from $7.8m in the same period a year ago. The firm's shares closed 4.9 per cent lower at $3.10, but have gained 24 per cent over the past 12 months.

The company said the loss was largely attributable to due diligence costs from its conditional agreement to acquire an 85 per cent stake in industrial services group Contract Resources.

A dividend of 5 cents per share was declared, on par with last year.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content