Hills Holdings falls on FY loss

Group says huge writedowns weighed on result, a day after sale of steel business.

Hills Holdings (HIL) says its divestment plan is on track and believes it will see organic growth opportunities in its technology and communications segments in the coming year.

Reporting a day after it disclosed it would sell its Orrcon and Fielders steel businesses to Bluescope for $87.5 million, Hills posted a $94 million loss for the full year, sending its share price down 4.2% to $1.38 at 1057 AEST. 

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