Media ReleasesHills Limited

View All Hills Limited News

Hills Announce Restructure to Deliver Sustained Profitability

Market Update

Hills restructure to deliver sustained profitability

Further to the market update in May 2019, Hills Limited (ASX: HIL) has defined a path to long-term growth in profitability and shareholder returns.

Key points

  • Strategic Review recommends increased focus on growing Health business, which showed 50 per cent growth in EBITDA in FY2019 1
  • Focus on returning the streamlined Distribution business to profitability
  • Hills to exit underperforming Communications assets
  • FY2019 results to include one-off provisions and costs of $7.7 million related to Distribution business restructuring and non-cash impairment of approximately $6.5 million of intangibles and non-current assets following review of asset carrying values
  • FY2019 statutory loss of approximately $8.8 million after one-off provisions
  • In line with market guidance, a small underlying profit after tax of approximately $0.5 million for FY2019 compared with an underlying profit after tax of $0.1 million in FY2018 2
  • Board directors’ fees reduced
For further information please download the attached PDF: Download this document

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.