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Hills Announces Financial Year 2018 Results

Hills returns to profitability

Hills Limited (ASX:HIL) announced its FY18 full year results today, which showed the Company has returned to profitability, delivering a $8.3m improvement on the previous year’s results.

Financial Summary:

- NPAT of $0.4m represents a significant turnaround from prior year loss of $7.9m.

- Expenses down $21.2m or 20.1% from $105.6m prior year to $84.4m.

- Net debt down $3.1m from 30 June 2017 to $16.9m.

- Significant turnaround in operating cash flow generating $12.0m up by 12.8m from FY17.

- Inventory reduced from $46.5m to $44.0m.

- Stronger overall company gross margins at 31.9% up 2.4% on prior year.

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