News: HIL Hills Ltd confirms Q3 trading results, page-8

Bensterz,

agree .......what I was trying to indicate .....is

1. the ebitda margin on these exsisting businesses will fall .......markedly
2. the factoring announc. "suggests" that recievables (and sales) may actually fall further ....
3. hard asset coverage is around double for the new "bank loans" ....ie lower risk for said banks.....
4. shareholders are being "bent over" by a management / Board that refuse to make the bleedingly obvious "hard deisions" !!!!!!!!!!!!! (ie Board is willing to sacfrice remaining earnings capacity, RATHER than conduct a dilutive (to them) cap raising to rectify the issues facing the company.......
5. one wonders "what" is included in the GG&A component in the accounts .....................


I was trying to be polite !

rgds
V_H