Hills Limited (ASX:HIL) announced its FY19 first half results today.
- NPAT increased $1.0m over the prior year corresponding period.
- EBITDA of $5.1m represented a 41.7% improvement.
- Revenue declined primarily due to changes to the AV vendor portfolio and challenges within the small to medium business (SMB) sector of our security and surveillance business.
- Operating expenses down $3.1m or 7.1% on the prior year corresponding period.
- Net debt up $5.5m from 30 June 2018 to $22.4m.
- Cash flow from operating activities was an outflow of $1.2m in the period versus prior year inflow of $8.1m reflecting investment in new brands and key projects due for delivery in H2.
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