New Zealand investment firm Hellaby Holdings, which owns a number of prominent local parts suppliers, has announced an after tax profit of $10.3 million for the year to June 30.

This is dramatically higher than a profit of just $700,000 in the previous year.

Hellany owns parts suppliers BNT, Autolign, NZ Brake Co, HCB Technologies, Diesel Distributors and TRS Tyre and Well. Autolign and HCB Technologies also run outlets under the Shock Shop and Battery Town brands.

The head of the major service for uploading vehicles to TradeMe has sought to clarify a story Autotalk ran earlier in the week.

In the report, the Commerce Commission said: “Motor vehicle traders must ensure that consumers have access to Consumer Information Notices (CINs) for all used motor vehicles offered or displayed for sale.”

Autobase general manager David Boshier says this is not the case, and a CIN is required only on auction listings.

Re-focusing on its core-activities - vehicle lending and leasing - has paid off for Marac Finance.

The firm today reported a net profit after tax of $14.3m against a projection of a $13.7m profit made last year.

In its report, the company noted the important impact focussing on the vehicle business has had: “A highlight for the year under review was the strength of the balance sheet and the quality of Marac's earnings, namely from vehicle leasing and finance, as the company re-focused on its core lending operations.”

Marac parent company Pyne Gould Corporation has announced it expects to report a net profit ahead of expectations.

Profit for the year to June 30 will be $22 million, ahead of a forecast of $20.9 million.

PGC’s press release noted strong contributions from Marac's vehicle finance operations among its investments.