Ann: Hills FY16 Half Year Results, page-2

The results were flagged at the AGM. Still, they are pretty horrible - EBITDA down from $18.2m to $5.4m.
Their target to deliver a better second half EBITDA doesn't say a lot. Debt up to $38m - new facilities yet to be concluded.

Lots of opportunity to improve performance, especially in the Health Division. But it sounds like it will be slow progress.

While they are losing money on a net basis, there's no reason that the shares should trade above tangible NAV of 25c. Maybe a discount.

Perhaps worth a punt at 17-18c, if it gets there. IMO.