Business
AGM and Interim Management St
AGM and Interim Management St.
About this update from Hill & Smith Plc
[{"type":"text","content":"\n RNS Number : 0609S Hill & Smith Hldgs PLC 12 May 2009 \n \n\n\n12 May 2009\n\nHILL & SMITH HOLDINGS PLC\n\nAGM and Interim Management Statement\n\n\nHill & Smith Holdings PLC ('Hill & Smith' or 'the Company'), the international group with leading positions in the supply of infrastructure products, galvanizing services and building and construction products to global markets, today issues its Interim Management Statement covering the period from 1 January 2009 to 12 May 2009. The Annual General Meeting will be held at 11.00 a.m. today at the National Motorcycle Museum, Solihull. \n\nGroup Overview\nIn spite of the challenging economic conditions in the first quarter of 2009, overall trading for the period has been in line with expectations, with the Infrastructure Products Group in particular performing strongly as we see increased spending in sectors such as road infrastructure. Where trading has been affected by lower volumes, costs have been adjusted in order to reduce the impact on earnings which, during the period benefitted from favourable exchange rate movements and lower interest costs.\n\nInfrastructure Products Group ('IPG')\nIPG, which is focused in four main markets, grouped as HS Roads, HS Rail, HS Utilities and HS Security performed strongly over the period. HS Roads has seen increased sales with healthy demand in the UK and overseas for both steel and wire rope safety barrier systems and for bridge parapets.\n\nThere has been strong revenue generation from Varioguard®, our temporary road safety barrier, as the Highways Agency spend on infrastructure projects increases. In May we commenced the deployment of 32km of Varioguard® on the M25 widening project, and expect good utilisation of our rental stock through the second half of the year, both from this project, which will run through to 2012, and for the M1 J25-28 widening and M6 Birmingham Box active traffic management scheme.\n \nTechspan, our electronic variable message signs business, has performed&n...