Hill & Smith profits up 16%, led by 'strong' performance in UK and US; appoints Alan Giddins as Chairman

Writer, Stock Market Wire
Wednesday, August 7, 2019 - 07:19

Infrastructure company Hill & Smith said reported profits rose by 16% in the first half of the year, led by 'strong' performance in UK and US. The company also announced that Alan Giddins would succeed Jock Lennox as Chairman with effect from 1 October.

For the six months ended 30 June 2019, reported pre-tax profits rose 16% to £33.4m as revenues increased 15% to £339.5m.

'Good' first-half performance was driven by a strong performance in UK and US amid sustained infrastructure spend, though this was partly offset by weaknesses in smaller international markets, the company said.

The interim dividend was increased by 6% to 10.6p.

'Overall, we are confident that our market leading positions, business model and financial strength position us well for further growth. Whilst short term political and macroeconomic uncertainties remain, particularly in the UK, our expectations for the full year are unchanged,' said Derek Muir, Chief Executive.

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