And that is all she wrote…
On my travels around the ‘inter-web’, I found out a pretty cool fact which shows how businesses can evolve relating to my company Hills Limited.
We all know the good old clothes lines (Hills Hoist) our grandparents used to have in the back yard, right? Well funnily enough the Hills that I’ve been assigned, that is known for innovation in Electronic Security is the same Hills Industry which released the iconic Hills Hoist back in 1946. I found it amazing how a company can diversify and change over time to suit the ever-changing world of business that surrounds us today. They have managed to keep the same brand for over 70 years (despite changing the company name and management many times) and to this day are still using this history as a marketing tool. It was really eye-opening to see how beneficial longevity is for a company, in any industry for building reputation and trust.
First Impression of Hills Limited
After viewing the ‘Find you Company’ folder on Moodle, I was both intrigued and uneasy to find I had been assigned, Hills Limited (Formerly Hills Holdings) to study, as my knowledge was very limited. To be frank, I really wasn’t happy with being assigned this company. It looked both dull and boring. However, after reading through both the financial reports for Hills Limited (Ltd) and “Market Line’s” company profile I began to show a greater interest in Hills. These documents turned the pages of numbers and paragraphs into meaningful information that could be understood. Upon completion the documents showed a long company history which depicted the many twists and turns taken by the Board, which has subsequently led to the financial situation (see link below) facing Hills Limited after 70 years of business. So, let’s get into what Hills Ltd really is about.
Hills from a Distance
Hills is a largely Australian owned, investment company, which provides a broad range of products and services across Australia and New Zealand in the form of integrated, electronic security. Hills has been publicly listed on the ASX (Australian Stock Exchange) since 1958, some 12 years after originally being established by Lance Hill.
For the past 70 years Hills has been recognised for both its innovation, trust and reputation. This has been shown by an array of awards including a spot on BRW’s (Business Review Weekly) ‘most innovative companies list’ and, the Readers Digest’s Most Trusted Iconic Brand Award for 2013 and 2014 (Limited 2016).
Recently the company underwent major restructuring, where the Board decided to de-risk Hills Limited. This involved leaving markets with low profit margins that were capitally intensive and selling the equivalent subsidiary company in their portfolio. The revenue from these sales were then used to end the financial year with prosperous financial statements and zero gearing (no debt). In the case of Hill Ltd they moved from the steel industry and evolved into a company with a main focus on being a value added distributor of electronic systems in areas such as: Information Technology (IT), Audio Visual (AV), Antenna and satellite, CCTV and Surveillance, Fire and Security and Health Solutions (‘Hills Limited’ 2016).
Hills Financial Position in 2015
With the company completing restructuring in 2015, Hills elected a new CEO and further spent large amounts of resources divesting and implementing a new business strategy which would focus solely on growth in the coming years. The CEO Grant Logan issued a statement to shareholders in the 2015 Annual Report which claimed that with the new structure, “it would still take us (Hills) further time to return the company to the profitability expected for a company of our size”. This came after it was revealed on the Consolidated Income Statement (Pg.44) that Hills ended 2015 with an $85,780,000 loss in profit (Limited 2016). However, despite the large financial loss the firm is now focusing on stabilising, consolidating and growing Hills, whilst also increasing market share in areas with room for greater margins.
I really was hoping that I could directly play the video from the Hills website which would give a concise explanation of the changes occurring. However I was unable to, so sadly we are stuck with the link which will lead you to the video if you wish.
Find the link Here
Another video I found very interesting was an interview with the then CEO of Hills Ted Pretty. The video indicates that after HY15 Hills Limited was well on its way to selling all industrial assets and focusing mainly on services and distribution. The Link can be seen Here
- Hills Limited. (2016). Hills Limited MarketLine Company Profile, 1-18.
- Limited, H. (2016). Annual Report. Retrieved 26/03/, 2016, from http://www.corporate.hills.com.au/getattachment/70b55bf9-e050-40cc-a059-f3c14f53e7e9/Annual-Report-Year-Ended-30-June-2015
- Limited, H. (2016). Corporate Overview. Retrieved 26/03/, 2016, from http://www.corporate.hills.com.au/about-us/corporate-overview
Although this is most likely late, I would still like to present my top 3 blogs so far that I have encountered! There were so many blogs which interested me, however, there just wasn’t enough time or space to show them all.
This blog created by Steven Rowntree, provides a very clean cut, informative and interesting outlook on his company, Nearmap LTD. He has even gone a step further by adding a YouTube video for the readers, which is a summary of his company. This is great as it also gives an overview of the company before you have even started reading his background information about Nearmap LTD. The entirety of the blog is easy to navigate and also provides great detail in all aspects of the company and assignment.
The second blog which I found very interesting was Sue Brock’s. This blog is great. In her introduction blog she showed how she has embraced being a mature aged student and her enthusiasm to have her son as a ‘Study Buddy’. Her post on Noni B was very detailed and informative, showing she has read into both the annual statements and the company itself in great depth. I also enjoyed browsing through a few of the links provided on Noni B as well.
The last blog which I took a liking to was by Manisha Kapadia. Although some aspects may have been a little difficult to interpret, I fully enjoyed reading about RuralCo and their operations in the agriculture and agribusiness industry. The information was concisely presented and the YouTube links helped grasp an even better understanding of her company. The blog was also easy to navigate.
My name is Trevor, I am 18 years old, well soon to be 19 and I currently study in Rockhampton. Originally born in Newcastle (Nsw), I border hopped up to Gladstone (Qld) when I was 7, where I completed the remainder of my schooling years. Since then, I’ve successfully completed my first year of a bachelor of Accountancy Degree. However, I didn’t feel 100% confident in my choice and proceeded to switch to a bachelor of Business (majoring in management) for this year, which I am enjoying immensely so far.
Although I didn’t particularly enjoy schooling, I have found a new and refreshing approach to studies since enrolling in the ‘School of Business’ and university itself. I find the full-time workload a fun challenge whilst also balancing my time with other activities. I’d like to say I’m also working part time, but that would be a lie. Due to sporting commitments which consume different amounts of time 5 of 7 days a week, it is practically impossible to do so. So in other words I’m your stereotypical, poor uni student.
I am currently committed to playing basketball with the Rockhampton Rockets in the QBL (Queensland Basketball League) and recently competed in the U20 Australian championships with Queensland (much to the disappointment of my relatives in Nsw). Apart from basketball, my hobbies include a lot of video gaming, sports watching (especially cricket, rugby league and of course basketball) and socialising with mates. A few of my favourite professional basketballers can be seen in the attachment below .
Growing up on a beef cattle farm for several years, my heart definitely lies on the land. I love all aspects of country life and find the freedom and tranquility second to none.
Without a doubt, my goals after finishing my academics would be to either pursue employment in either the agriculture or sporting industries. But, who knows what the future may hold and what paths may be taken. So, yeah that’s a bit about me, hope I bored everyone as much as possible.