24th Nov 2015 09:18
LONDON (Alliance News) - Infrastructure products and galvanising services company Hill & Smith Holdings PLC on Tuesday said trading has remained robust in the second half of 2015, leaving it on track to meet its expectations for the full year.
Hill & Smith said demand for its products in the UK in the four months to the end of October was solid as Highways England, the body in the UK responsible for motorway projects, has continued to invest. The company has seen some delays recently in the start of Smart Motorway projects, which are now set to start in 2016, but demand for its Variable Message Signs remained solid in the half.
Hill & Smith's roads business in Scandinavia also is performing well, while cost actions have mitigated softness for its French unit.
Utilities sales were strong, with good substation and composite revenue in the US and strong demand for security and building products in the UK. Galvanising volumes were broadly flat in the four-month period, with activity levels in the US good but offset by weakness in France and lower volumes in the UK.
"Overall, conditions in many of our end markets are generally encouraging and we continue to expect the group to report good progress for 2015. Accordingly, we remain on track to meet the board's expectations for the full year," said Derek Muir, Hill & Smith's chief executive.
Hill & Smith shares were up 2.8% to 682.425 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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