Hills expects to return to trading profit in the second half of the 2018 financial year, the distributor announced during its 2017 annual general meeting, addressing moves to return to profitability after a disappointing run of losses in the years prior.
We are making progress and Hills is heading in the right direction, Hills chairwoman Jennifer Hill-Ling told shareholders during the meeting last week.
Although we are not anticipating a return to profit in the current December half, we are expecting a trading profit in the second half of FY18 as our strategic initiatives and the benefits of cost reductions are realised.
The distributor accrued a net loss of $7.9 million for the financial year ending 30 Ju…
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