Sales improve for HIll & Smith group
West Midlands galvanizing and infrastructure products group Hill & Smith today reported sales up two per cent for the four months to the end of April.
Ahead of its annual general meeting the group, which has its headquarters in Shirley, reported that trading in the period had been encouraging and is ahead of the expectations.
Revenue for Hill & Smith, which has its motorway barrier factory at Springvale Business Park in Bilston, was up from £153.2 million a year before to £163.1m
Underlying operating profit and operating margin are both also ahead of the same period last year.
It said that in the UK, implementation of the Government's road investment strategy continuedto develop in line with its expectations and demand for its temporary safety barriers is strong. Order intake had remained encouraging for variable message signs,
On Friday the group completed the acquisition of Safety and Security Barrier Holdings, which trades as Hardstaff Barriers, for £11m. It specialises in the sale and rental of fully tested temporary and permanent pre-cast concrete barriers for site and vehicle protection.
The group also includes the Joseph Ash galvanizing plant in Halesowen and galvanizing volumes were 10% up on the same period in 2015 with solar and wider infrastructure markets continuing to drive a strong performance in the United States.
Group chief executive Derek Muir said: "The group has delivered a strong start to the year despite mixed end market conditions. Although some markets are expected to remain challenging, 2016 is again expected to be a year of good progress."
