InDaily InDaily

Support independent Journalism Donate Subscribe
Support independent journalism

Business

Hills predicting profit despite revenue fall

Business

Hills Limited remains confident of achieving a profit this year despite a fall in revenue in the first-half results released today.

Comments
Comments Print article

The Adelaide technology company has reported a $21 million revenue decline, due to its decision to leave the “unprofitable NBSB satellite installation business” and a shortfall in antenna sales due to “the competitive Pay TV landscape”.

However, Hills says the half-year results are in line with previous guidance, with the performance marked by a reduction in debt and solid turnarounds in operating cash flow and earnings.

Hills CEO and newly appointed managing director David Lenz says he is “pleased” with the first half performance and expects a continued improvement in the remainder of the year.

“Based on the first half results and Hill’s current strategic initiatives, the company continues to anticipate delivering a trading profit in the second half of FY18,” Lenz said in a statement.

Hills says its security, surveillance and IT business – the group’s largest division – achieved 4 per cent growth in the first half.

The company’s health business also grew, while the audio-visual business saw revenues decline, albeit with the maintenance of “solid margins”.

EBITDA – earnings before interest, tax, depreciation and amortisation – increased to $8.4 million, compared with $3.6 million for the same period last year.

Make a comment View comment guidelines

Local News Matters

Media diversity is under threat in Australia – nowhere more so than in South Australia. The state needs more than one voice to guide it forward and you can help with a donation of any size to InDaily. Your contribution goes directly to helping our journalists uncover the facts. Please click below to help InDaily continue to uncover the facts.

Donate today
Powered by PressPatron

Comments

Show comments Hide comments
Will my comment be published? Read the guidelines.

More Business stories

Loading next article