14th May 2015 08:59
LONDON (Alliance News) - Manufacturing company Hill & Smith Holdings PLC on Thursday said it is trading in line with its expectations as revenue rose in the first four months of the year.
The company, which provides products and services to the utilities and road sectors, such as safety barriers, street lighting columns and drainage pipes, said revenue in the first four months to the end of April was GBP153.2 million, up from GBP146.4 million a year earlier.
Demand for its road products in the UK has continued to be strong, Hill & Smith said, but its utilities business has been hit by weak demand for its pipe supports business and by poor US weather conditions in the first quarter. The group does expect its utilities business to improve in the second half, based on recent order intake activity and enquiry levels.
"Overall our performance in the first four months was in line with our expectations with good organic revenue growth. Although some markets remain challenging, we continue to expect 2015 to be another year of good growth," said Derek Muir, Hill & Smith's chief executive.
Shares in the company were flat at 701.375 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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