"Hills First Quarter Market Update Hills Holdings Limited (ASX: HIL) announced today that due to the continued slowing in the economy and the steeper than anticipated decline in construction activity, volumes and margins, primarily across our manufacturing businesses, have been much weaker than expected. Accordingly, the results for the first quarter of the current financial year are 45% lower than the corresponding period last year. Based on current industry data, directors anticipate continuing pressure on volumes and margins."
This is the statement that put the Shareprice in a spin and within two days the price went from $1.15 down to 64.5 cents. So this statement was put to market on the 18th October, was it challenged by anyone at the AGM?
Looking over the announcements yesterday there was one slide given to the 1stquarter 2013. It showed "NPAT less 45%".
For such an announcement that put the share price in such a spin, wouldnt it be fair to assume that the break down of the 1st quarter financials were offered in a more detailed manner??
So much was emphasised on the FY2012 results which were known ages ago and if people were interested they would have been able to see the detail within each division from the full year report.
So is it fair to ask, why no detail for the 1st quarter considering that is what sent the share price into a tail spin??
One can only wonder why??
Cheers
HIL Price at posting:
85.0¢ Sentiment: None Disclosure: Not Held
