Business
Annual Results
Annual Results.
About this update from Hill & Smith Plc
[{"type":"text","content":"\n RNS Number : 2696I Hill & Smith Hldgs PLC 09 March 2010 \n\n \n9 March 2010 \nHill & Smith Holdings PLC\n(\"Hill & Smith\" or the \"Group\")\n \nANNUAL RESULTS 2009\nHill & Smith Holdings PLC, the international group with leading positions in the supply of infrastructure products, galvanizing services and building and construction products to global markets, today announces its annual results for the year ended 31 December 2009. \n \nFinancial Results from Continuing Businesses\n \n\n\n\n\n\n\n\nYear ended\n31 December 2009\n\n\nYear ended \n31 December 2008\n \n\n\nChange\n \n\n\n\n\nRevenue\n\n\n£389.7m\n\n\n£419.8m\n\n\n-7.2%\n\n\n\n\nUnderlying operating profit*\n\n\n£47.0m\n\n\n£47.4m\n\n\n-0.8%\n\n\n\n\nUnderlying profit before taxation*\n\n\n£42.2m\n\n\n£38.9m\n\n\n+8.5%\n\n\n\n\nUnderlying earnings per share*\n\n\n38.3p\n\n\n32.2p\n\n\n+18.9%\n\n\n\n\nBasic earnings per share\n\n\n36.3p\n\n\n30.0p\n\n\n+21.0%\n\n\n\n\nDividends per share \n\n\n11.5p\n\n\n10.0p\n\n\n+15.0%\n\n\n\n\nNet debt \n\n\n£87.6m\n\n\n£146.2m\n\n\n-£58.6m\n\n\n\n\n \n* Non-Underlying items represent business reorganisation costs, property items, amortisation of acquisition intangibles, impairments, gains on disposal of available for sale financial assets, change in the value of financial instruments and net financing return on pension obligations.\n \nFinancial Highlights: \n· Record profit before taxation and earnings per share.\n· Underlying earnings per share* up by 18.9%.\n· Dividends per share up by 15.0%.\n· Net debt substantially reduced by £58.6m.\n· Free cash flow increased significantly to £46.6m (2008: £9.4m).\n \nBusiness Highlights:\n· HS Roads benefited from a strong order book and the accelerated Highways Agency maintenance programme.\n· Record utilisation in the UK of temporary vehicle restraint system Varioguard. \n· &n...