Hill & Smith YTD revenues up 9% YOY

Infrastructure group Hill & Smith Holdings said on Tuesday that year-to-date trading had been "positive", with reported revenues 9% ahead of the same time a year earlier, driven by pricing actions and "robust levels of demand" across its portfolio.

Hill & Smith Holdings stated its galvanising division delivered a strong performance in the four months ended 30 April, with good levels of organic revenue and profit growth across all three regions reflecting actions taken to offset input cost inflation, a strategic focus on higher-margin customers, and a modest increase in total volumes.

The FTSE 250-listed firm added that demand across its utilities unit continued to be "buoyant", with strong organic revenue growth against "robust" 2021 comparators, while its roads and security arm saw demand for its tested roadside safety products remain strong but utilisation of its UK temporary safety barrier fleet drop year-on-year, as expected.

"We continue to actively manage the supply chain and inflationary headwinds and, while mindful of the wider macroeconomic uncertainty, the group remains on track to deliver full-year 2022 underlying operating profit in line with market expectations," said Hill & Smith.

"We remain positive on the medium to longer-term outlook, supported by strong market growth drivers for both sustainable infrastructure and safe transport."

Reporting by Iain Gilbert at Sharecast.com