Ann: Hills FY16 Half Year Results, page-46

It was just another in a list of incredibly dumb, commercially naive decisions made by Mr Pretty and the board. The money was never in that sector of the HIL business in any case. It was in the electronics division activities and that is a total mess after the "restructure" - centralizing inventory, closing branches, losing key people, losing key agencies, buying worthless businesses they didn't understand how to do DD and manage what they acquired. Now the electronic business turns over way less than it did before Mr Pretty got hold of it an interfered in things he didn't understand - and this trading is after the list of acquitsions they "completed" which have proven to be if no value whatsoever and the base business before the acquitsions have been decimated in market share and capability. Someone should write a book.