I think that the company is turning the corner. The first half was actually much improved, though it wasn’t obvious because they didn’t clearly strip out the one off gains from the previous year.
The new look website and its ecommerce abilities are a huge improvement for customers. The in house warehousing will improve customer service, as well as the efficiency gains.
Stripping out the NBN work that they didn’t want to renew, underlying sales are finally beginning to head the right way again.
If they make a reasonable profit in the second half, the profit potential for 2018-19 could surprise the market.
A great medium term buy, IMO.
HIL Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
