25 January 2023
Hill & Smith PLC
Strong trading - full year operating profit ahead of expectations
Hill & Smith PLC ("Hill & Smith" or "the Group"), the international group creating sustainable infrastructure and safe transport through innovation, today provides an update on trading for the year ended 31 December 2022.
Based on the strong trading in the last two months of 2022, we now expect full year operating profit from continuing operations to be ahead of the top end of current analyst consensus*. In particular, we have seen outperformance in our US Galvanizing and US based Engineered Solutions businesses.
The Group's preliminary results for the year ended 31 December 2022 are scheduled to be announced on 8 March 2023.
* Based on company compiled consensus, the Board believes the average market forecast for 2022 underlying operating profit from continuing operations to be £91.7m, with a range of £88.6m to £93.3m.
For further information, please contact:
Hill & Smith PLC
Alan Giddins, Executive Chair
Hannah Nichols, Chief Financial Officer
Notes to Editors
Hill & Smith PLC creates sustainable infrastructure and safe transport through innovation. The Group employs c.3,800 people worldwide with the majority employed by its autonomous, agile, customer focussed operating businesses based in the UK, USA, Australia, India and Sweden. The Group office is in the UK, and it is quoted on the London Stock Exchange (LSE: HILS.L).
The Group's operating businesses are organised into three main business divisions:
Galvanizing Services: dramatically increasing the sustainability and maintenance free life of steel products including structural steel work, lighting, bridges, agricultural and other products for the industrial and infrastructure markets.
Engineered Solutions: supplying engineered steel and composite solutions with low embodied energy for a wide range of infrastructure markets including energy generation and distribution, marine, rail and housing. The division also supplies engineered pipe supports for the water, power and liquid natural gas markets and seismic protection solutions.
Roads & Security: supplying products and services to support road and highway infrastructure including temporary and permanent road safety barriers, renewable energy lighting and power solutions, Intelligent Traffic Solutions, street lighting columns and bridge parapets. The security portfolio includes hostile vehicle mitigation solutions, high security fencing and automated gate solutions
This announcement contains inside information for the purposes of
Article 7 of EU Regulation
The person responsible for making this notification is Alex Henderson.