Partner Article

Hill & Smith post 38% profit rises

West Midlands-based infrastructure firm Hill and Smith Holdings has announced pre-tax profit rises of 38.6% in its preliminary results.

The international company supplies products like pipes, road safety barriers and metal coatings for steel work to seven different principal countries including France, the U.S., Thailand, Sweden, China, India and the UK.

Revenues grew by 8.5% due to strong performance in infrastructure products and galvanizing services, while underlying pre-tax profits grew by 8%.

The business also said it has significantly reduced debts from £103.8m to £86.8m, and announced a dividend increase of 13.6%.

Chief executive, Derek Muir, commented: “I am pleased to report another strong performance from the group’s infrastructure products and galvanizing services businesses.

“Our strategy of complementing organic growth with selective acquisitions, combined with our significantly greater international spread, resulted in the continued generation of increased earnings, dividends and shareholder value.

“Overall 2013 has started slowly, which will lead to earnings being weighted towards the later part of the year, nevertheless the board remain confident that our international diversity will continue to provide resilience in the short term and significant organic growth in the medium to longer term.”

This was posted in Bdaily's Members' News section by Miranda Dobson .