Hill & Smith 4-month Revenues Rise; Sees FY22 Profit In Line With Market Expectations

Hill & Smith Holdings PLC (HILS.L), a provider of infrastructure and safe transport solutions, Tuesday said its trading for four months to April 30 has been positive. Reported revenue was 9% ahead of last year, driven by pricing actions and robust levels of demand across the portfolio.

Looking ahead, the company said it remains on track to deliver full year 2022 underlying operating profit in line with market expectations.

The current company compiled analyst consensus expectation for the full year underlying operating profit is 92.0 million pounds.

The company also remains positive on the medium to longer term outlook, supported by strong market growth drivers for both sustainable infrastructure and safe transport.

In its trading update for the four month period, Hill & Smith said the Galvanizing division delivered a strong performance, with good levels of organic revenue and profit growth across all three regions.

Utilities segment's organic revenue growth was strong with good levels of organic profit growth, driven by improved demand, while margins were impacted by product mix in US composites.

In Roads & Security, as expected, utilisation of the UK temporary safety barrier fleet was lower than last year, however this is expected to increase in the second half of the year as new RIS2 strategic road upgrade schemes commence.

The company's interim results for the six months ending June 30 are scheduled to be announced on August 3.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Covid vaccine makers Pfizer Inc. and BioNTech SE announced a new $3.2 billion vaccine supply deal with the U.S. Government, as the country is bracing for a Covid outbreak this fall. Under the deal, the U.S. government will receive 105 million doses (30 µg, 10 µg and 3 µg) of Pfizer -BioNTech covid vaccines initially. The order may include adult Omicron-adapted COVID-19 vaccines. Samsung Electronics Co. has started the initial mass production of 3-nanometer or nm chips, which is considered as the most advanced chip in the world. In its move, the South Korean tech major beats rival Taiwan Semiconductor Manufacturing Co., the world's largest chip manufacturer, which is reportedly in the process to build one. Bryant Ranch Prepack Inc. is recalling certain Morphine Sulfate Extended-Release Tablets citing incorrect labeling, the U.S. Food and Drug Administration said. The recall involves one lot of Morphine Sulfate 30 mg Extended-Release tablets, and one lot of Morphine Sulfate 60 mg Extended-Release tablets to the consumer level.
Follow RTT