Hills takes $94 million impairment

Company News

Hills Limited (ASX:HIL) has re-affirmed full year guidance and says it will take an impairment of $94 million in its full year results. 
The company has been undergoing a review and says it will continue to focus on Security, AV and Communications and Health technologies. 
The review has found that values of goodwill, tax assets and freehold property should be re-valued in line with market capitalisation and growth expectations. 
After the impairment Hill is predicting a net loss of $86 million and says it will not pay a final dividend. 
Hills reported a net profit of $9.23 million for the six months to the end of December 2014. 

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