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Hills announces Market Update

Market Update

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.

Highlights

  • 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 
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