“The Electronic
Security & Entertainment Division put in another strong performance and
maintained its position of recording the highest EBIT margins of any of our
operating divisions,” Twartz said.
Hills said net
profit after tax in fiscal 2010 rose by 322.7 per cent to $A40.188 million,
helped by a turnaround in the company’s home hardware and eco products
division.
Hills said net
profit before unusual items was 43.3 per cent higher, also at $40.188 million
and announced it would pay a final dividend of 5.5 cents a share, fully
franked, up from two cents in the fiscal 2009.
Hills chairman
Jennifer Hill-Ling said the company forecast a lift in profits in the current
financial year.
“We remain
focussed on retaining the business improvements implemented in FY09 and FY10
and have a number of growth initiatives in place to deliver a modest
improvement in profits for FY11,” Ms Hill-Ling said.
Ms Hill-Ling said
external factors such as the state of global financial markets, the issue of
sovereign debt in Europe, the weak US economy and muted activity in the
commercial building sector domestically could have an effect in the forthcoming
year.
