Hills Limited
(ASX:HIL) today announced its results for the half year ended 31 December 2015.
Results Summary
- EBITDA of $5.4 million is better than expected at the time of the November AGM;
- Second half EBITDA expected to be an improvement over first half;
- Share price decline has triggered a further review of asset carrying values with impairments of $66 million booked, predominantly in respect of goodwill, intangible assets and deferred tax assets;
- Net debt at $38 million as at 31 December 2015;
- Hills is continuing to work proactively with its bankers to refinance its facilities to further align with the needs of the Company. The revised facilities are now expected to be in place by the end of April 2016.
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