The company has already flagged plans to sell its footwear division.
Hellaby shares rose 0.7% to $3.
Investors always hate uncertainty.
John Williamson said the company is looking at acquisition opportunities in Australia as the economy cools.
The company posted a profit of $23.4 million, or 28.6c per share, in the 12 months ended June 30.
Elldex’s sale price was about Hellaby’s carrying value after transaction costs.
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