Technology firm Hills says it will make another loss this financial year, due to the costs of a restructure and its scrapped plans to demerge its health technology business.
Hills is forecasting a net loss of between $6 and $8 million for the year to June 30, an improvement on the previous financial year’s $68 million loss, and a $86 million loss in the year before that.
Best known as the maker of the Hills Hoist, the company has since 2013 moved away from manufacturing to become a distributor of security systems, audio visual equipment and health technology.
The Hills line of household products is now licensed to Woolworths.
Hills said its cashflow in the second half of the 2016/17 year has been impacted by restructuring costs and charges …
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