Here is a summary of the trading statement from Hill & Smith PLC
Hill & Smith PLC, an international provider of sustainable infrastructure products and services, released a trading update for the four-month period ending October 31, 2024. The company reported positive trading performance, with a 7.5% increase in revenue on a constant currency basis and 2% organic growth. The Engineered Solutions and Galvanizing Services divisions drove this growth, particularly in the US market. The Groups operating margin improved, and strong cash conversion continued. The full-year operating profit is expected to meet analyst consensus estimates.
The Engineered Solutions division saw strong demand across US infrastructure markets, and the Galvanizing Services division achieved 13% volume growth in the US and a resilient performance in the UK. The Roads & Security division faced challenges, partly due to the UK market backdrop and subdued performance in the US off-grid solar lighting business.
Rutger Helbing, Chief Executive, expressed confidence in the Groups exposure to attractive infrastructure end markets and its prospects for value creation. He attributed the positive trading performance to strong demand and the focused M&A strategy. The Groups preliminary results for the year ending December 31, 2024, are expected to be announced in March 2025.