Ann: HIL Financial Year 2018 Results, page-3

I thought it was a good set of results, but haven't been presented that well.

Obviously they are a set of full year accounts, but the focus in the presentation should have been more heavily focused on the H2 results.

My observations included:
- Good to see revenue stablised around $135m for the half, which is the second half in a row it has been at this level. This gives the business a fairly solid revenue base of $270m for the year and something to build on.
- Cash flow looking very healthy, which will lead to future dividends
- Debt further reduced which is good and continues to reduce interest costs
- Website transactions are growing 100% month on month. That sort of growth is understandable considering the e-commerce platform only launched in January, but nice that it is still continuing. With further growth in e-commerce sales, this should assist on the revenue side, but would also allow the sales team to channel their focus in other areas and hopefully creates some savings in administration costs