Hillgrove reports Full Year Profit of 11.1M for 31 January 2009 April 21, 2009

Hillgrove Resources Limited (ASX: HGO) delivers sound financial performance in lead up to potential development of the Kanmantoo Copper/Gold Mine.

The Company announced today a profit after tax of $11.1 million for the financial year ended 31 January 2009.

The profit increase reported by Hillgrove for the period is the Company’s second profit in three years, and an exceptional outcome for an exploration and development company, with exploration and development expenditure for the reporting period totalling $10.8 million.

The strong financial result reflects the increased value of Hillgrove’s shareholding in Eastern Star Gas Limited (ASX: ESG) over the last year.

In addition to the increases in revenue and profit, the net assets of the company have increased by 52.5% to $84.2 million.

Click here to view the full announcement.

For further information, please contact:

Mr David Archer
Managing Director
Tel: +61 2 8221 0404
Mobile: 0414 737 767

Mr Russell Middleton
Chief Financial Officer
Tel: +61 2 8221 0404
Mobile: 0418 497 678