	hillsdown says early results encouraging hillsdown holdings plc hldn l said early results for were encouraging and the combination of its investment and acquisition strategies enabled it to look forward confidently for an excellent result for the year the company was commenting on results which showed pre tax profit rising to mln stg from mln previously on turnover that lifted to billion from billion the figures initially boosted the share price to p from p last night but they then eased back to p by gmt hillsdown said capital expenditure rose in to mln stg from mln and would continue at this high level in the placing of mln shares last year raised mln stg and enabled shareholders funds to more than double to mln at year end net borrowings were pct of shareholder s funds and the group had listed investments of mln the company said it had bought a total of companies during the year for a total price of some mln stg although these had made minor contribution to profits the real benefits would come in and beyond reuter 
