Hills Ltd intends to shut its antenna and TV plant in O’Sullivan Beach, South Australia and, as a result, about 35 jobs will be lost.
The Adelaide Advertiser reports that a further 15 workers from the plant will be relocated relocated to Hills’ Port Rd innovation centre. The change is part of the company’s decision to concentrate on in satellite and radio communications instead of TV.
The company posted a profit of $24.8 million in the year to June 30 and turned around the previous year’s loss of $94.1 million. In addition, it’s underlying profit increased by 42 per cent to $27.3 million. (This value excludes financing costs and significant items).