Hills Limited (ASX: HIL) is pleased to provide an update in relation to a number of initiatives the Board believes will improve financial performance, provide greater clarity around underlying business operations and enhance value for the benefit of all shareholders.
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Operational Review of the Distribution business identifies potential savings of over $5m over the next two financial years. The one-off costs to be incurred in realising these savings is between $300k to 500k which will be incurred in FY2019. Management believe that initial, annualised productivity improvements and operational cost savings of between $3 to $3.5million in FY2020 will be achieved.
Commencement of a Strategic Review to explore options to maximise the performance of Hills key business divisions and ensure the Group’s underlying value is appropriately reflected in its share price
Continuing growth in the Health business, with major new projects and the addition of GetWell patient care products to the Hills range