17th Nov 2016 07:42
LONDON (Alliance News) - Infrastructure products and galvanising services company Hill & Smith Holdings PLC on Thursday said it anticipates hitting the top end of expectations for 2016.
The group said revenue in the four months to the end of October grew 15% year-on-year to GBP185.0 million from GBP160.8 million, driven in part by benefits from the weak pound against other major currencies and by acquisitions made by the company.
Hill & Smith's Infrastructure business has performed well, it said, with encouraging progress in its roads division and a stronger performance seen in its Utilities business in the period.
Galvanising volumes in the four-month period were 1.0% higher, with margins boosted in the business by a focus on improving productivity.
The group expects to meet the top end of market expectations for the full year.
"Overall, conditions in many of our infrastructure end markets remain favourable and we continue to expect the group to report good progress for 2016," said Hill & Smith Chief Executive Derek Muir.
By Sam Unsted; [email protected]; @SamUAtAlliance
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