RHJ's profit is up on one-offs

Belgian holding company RHJ International reported a narrower first-half operating loss yesterday, and a rare net profit due to one-off gains from industrial activities it ultimately plans to divest. RHJ, which last month announced a £225m purchase of Commerzbank’s wealth management unit Kleinwort Benson, said its first-half operating loss excluding impairment charges was £28m, a year-on-year improvement of 35.8 per cent. The company, which has not made a full-year profit since it listed in 2005, turned a net profit in the first half of its year to March 2010 due to a capital restructuring of car supplier Honsel and the deconsolidation of US car parts maker Metaldyne.