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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.

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