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Hill & Smith says 2022 profit to top market forecasts

25th Jan 2023 09:35

(Alliance News) - Hill & Smith PLC on Wednesday said it expects yearly profit to beat market expectations, as the infrastructure company enjoyed "strong trading" at the end of 2022.

The West Midlands, England-based company expects underlying operating profit from continuing operations above market forecasts of GBP88.6 million to GBP93.3 million for 2022. Underlying operating profit in 2021 amounted to GBP86.0 million, so it expects growth of around 8.5% at least.

"In particular, we have seen outperformance in our US Galvanizing and US based Engineered Solutions businesses," Hill & Smith said.

The company will report annual results on March 8.

Hill & Smith shares were 1.3% higher at 1,276.00 pence each in London on Wednesday morning.

By Eric Cunha, Alliance News news editor

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