Aug 19 (Reuters) - Hills Ltd (HIL) : HILLS - HILLS WILL EXIT...

Aug 19 (Reuters) - Hills Ltd (HIL) :

• HILLS - HILLS WILL EXIT ITS ANTENNA AND STEP SATELLITE SERVICES BUSINESSES AND WILL NOT BE RENEWING ITS CONTRACT TO SUPPLY SATELLITE DISHES TO FOXTEL
• MANUFACTURING WILL CEASE AT HILLS O'SULLIVAN BEACH FACILITY IN ADELAIDE BY END OF CALENDAR YEAR
• FY2019 RESULTS TO INCLUDE ONE-OFF PROVISIONS AND COSTS OF $7.7 MILLION RELATED TO DISTRIBUTION BUSINESS RESTRUCTURING
• STREAMLINED DISTRIBUTION BUSINESS EXPECTED TO RETURN TO PROFITABILITY AS EARLY AS FIRST HALF OF FY2020
• STATUTORY LOSS AFTER TAX FOR FY2019 IS EXPECTED TO BE APPROXIMATELY $8.8 MILLION
• WILL POSITION HILLS TO RESUME DIVIDENDS IN FY2020
• HILLS - WILL DELIVER UNDERLYING PROFIT AFTER TAX OF ABOUT $0.5 MILLION FOR FY2019, STATUTORY LOSS AFTER TAX FOR FY2019 IS EXPECTED TO BE ABOUT $8.8 MILLION
• BOARD DIRECTORS' FEES REDUCED