HILLS FINDS A WAY
Hills is reporting a solid first half performance in 2017/18, with revenues down a bit (from an underperforming antenna install business, according to the report) and costs down even further.
Here’s what Hills had to say about its AV business:
Hills Audio Visual (AV) business saw revenues decline slightly, but has maintained solid margins, limiting the profit impact.
“Despite changes to its vendor portfolio, the AV business has seen strong sales growth from many of our key brands, including Williams Sound, Community Speakers, Wolfvision, Wyrestorm, Barix, Renkus Heinz and Biamp Devio, which all grew in the first half of FY18,” said David Lenz, CEO and MD of Hills Ltd. “We are also excited about the opportunities within our Unified Communications business with new initiatives from Yamaha and Revolabs.”
Hills’ Australian Monitor division has completed an upgrade of its product line, which was shown at the recent ISE trade show in Amsterdam, and is also expected to deliver sales growth over the next 12 months.
Mr Lenz said, “We also expect to be able to announce the addition of a number of complementary new vendors to our AV business shortly, which will see Hills deliver additional growth over the next 12 months.”
Mr Lenz goes onto say: “Based on the first half results and Hills’ current strategic initiatives, the Company continues to anticipate delivering a trading profit in the second half of FY18.”