Ann: Letter to Shareholders, page-3

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qf8

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16/09/15

14:13

Post #: 16002980
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Originally posted by xme ↑

In this letter to Shareholders, Chairman Jennifer Hill-Ling draws a parallel between the decline in the competitiveness of Australian manufacturing, and a decline in the fortunes of Hills Limited, formerly an iconic Australian manufacturing company.

Three years ago the company embarked on a restructure of its operations, selling under-performing manufacturing assets and acquiring businesses in the higher-yielding services sector including Security, Audio-visual and health services.

The FY 2015 results include the following outcomes:

Revenue was $427.8 million, down from $737.2 million

There were accounting impairments (non-operating items) of $97 million for the year.

Although the Underlying NPAT was 11.1 million. the impairments resulted in a Statutory Net Loss of $85.9 million.

Net debt is $32 million (19%)

There is a $110 million 3 year banking facility available.

Staff numbers have been reduced by 67% from 2,642 in FY 2012 to 862 in FY 2015.

At present the share-price is still in a down-trend, but at 40 cents, value investors will no doubt be looking at the stock as one that could transition into a profitable uptrend.

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I doubt it.. This stocks headed for 20c.. Every business they have aquired they have driven into the ground.
The first thing they need to do is round up anyone that has worked previously for Telstra or the NBN and sack them. Then they might have half a chance.
Last edited by qf8: 16/09/15

HIL Price at posting: 39.2¢ Sentiment: Sell Disclosure: Not Held
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Ann: Letter to Shareholders, page-3

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