21 November 2019
Hill & Smith Holdings PLC
Hill & Smith Holdings PLC ("Hill & Smith" or "the Group"), the international group with leading positions in the supply of infrastructure products and galvanising services to global markets, today issues a trading update covering the period 1 July 2019 to 31 October 2019 ("the period").
The Board expects full year 2019 trading to be in line with market expectations.
Hill & Smith continues to see strong trading in its core UK and US markets, with Group revenue for the period increasing by 8% to £243.6m (2018: £224.7m). After adjusting for currency translations and acquisitions, the organic increase was 2%. Underlying Group operating profit for the period was ahead of the same period last year. As set out at the half year, the Group continues to face challenges with our Scandinavian business.
During the period the Group completed the acquisition of Parking Facilities for a cash consideration of £12.4m, on a debt and cash free basis. Based in Tamworth UK, the business specialises in the design, manufacture and supply of a market-leading range of parking and access control products that complement our existing Hostile Vehicle Mitigation and related security product offering. Trading to date has been encouraging.
The 2019 interim dividend of 10.6 pence per share, announced on 7 August 2019, will be paid on 3 January 2020 to shareholders on the Hill & Smith register on 29 November 2019. The ex-dividend date is 28 November 2019.
The Group's preliminary results for the year ending 31 December 2019 are scheduled to be announced on 4 March 2020.
- Ends -
This announcement contains forward looking statements which are made in good faith based on the information available at the time of its approval. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a number of risks and uncertainties that are inherent in any forward looking statement which could cause actual results to differ materially from those currently anticipated. Nothing in this document should be regarded as a profits forecast nor should it be taken to mean that earnings per share of Hill & Smith in the year ending 31 December 2019, or in future years, will necessarily match or exceed the Group's historical earnings per share.
For further information, please contact:
Hill & Smith Holdings PLC
Derek Muir, Chief Executive Tel: 44 (0)121 704 7430
Hannah Nichols, Chief Financial Officer
Andrew Jaques/Ollie Hoare/Guy Featherstone Tel: 44 (0)20 3128 8100
Notes to Editors
Hill & Smith Holdings PLC is an international group with leading positions in the design, manufacture and supply of infrastructure products and galvanizing services to global markets. It serves its customers from facilities principally in the UK, France, USA, Sweden, Norway, India and Australia.
The Group's operations are organised into three main business segments:
Infrastructure Products - Roads, supplying products and services such as permanent and temporary road safety barriers, hostile vehicle mitigation products, street lighting columns, bridge parapets, temporary car parks and variable road messaging solutions.
Infrastructure Products - Utilities, supplying products and services such as pipe supports for the power and liquid natural gas markets, energy grid components, composite "GRP" products, industrial flooring, handrails, access covers and security fencing.
Galvanizing Services which provides zinc and other coatings for a wide range of products including fencing, lighting columns, structural steel work, bridges, agricultural and other products for the infrastructure and construction markets.
Headquartered in the UK and quoted on the London Stock Exchange (LSE: HILS.L), Hill & Smith Holdings PLC employs some 4,650 staff, principally in 7 countries.