Trading Update

RNS Number : 7370N

Hill & Smith PLC

25 January 2023

 

25 January 2023

Hill & Smith PLC

Trading Update

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.

Trading Update

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.

  ENDS

For further information, please contact:

Hill & Smith PLC         Tel:  [phone]

Alan Giddins, Executive Chair   

Hannah Nichols, Chief Financial Officer

MHP          Tel:  [phone]

Reg Hoare

Rachel Farrington

Catherine Chapman

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 596/2014 as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, as amended (together, "MAR").

The person responsible for making this notification is Alex Henderson.

 

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