Business
Half-year Report
Half-year Report.
About this update from Hill & Smith Plc
[{"type":"text","content":"\n \nRNS Number : 1603I Hill & Smith Hldgs PLC 07 August 2019 \n\nHill & Smith Holdings PLC\nHalf Year Results (unaudited) for the 6 months ended 30 June 2019\n \nGood H1 performance; full year expectations unchanged\n \nHill & Smith Holdings PLC, the international group with leading positions in the manufacture and supply of infrastructure products and galvanizing services to global markets, announces its unaudited results for the six months ended 30 June 2019. \n \nFinancial results\n\n\n\n\n \n\n\n \n\n\n \n\n\nChange\n\n\n\n\n \n\n\n30 June \n2019\n\n\n30 June \n2018\n\n\nReported \n%\n\n\nConstant** \nCurrency %\n\n\n\n\nRevenue\n\n\n£339.5m\n\n\n£295.4m\n\n\n+15\n\n\n+13\n\n\n\n\nUnderlying*:\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nOperating profit\n\n\n£40.2m\n\n\n£34.6m\n\n\n+16\n\n\n+13\n\n\n\n\nOperating margin\n\n\n11.8%\n\n\n11.7%\n\n\n+10bps\n\n\n-\n\n\n\n\nProfit before taxation\n\n\n£36.9m\n\n\n£33.0m\n\n\n+12\n\n\n+8\n\n\n\n\nEarnings per share\n\n\n37.5p\n\n\n32.8p\n\n\n+14\n\n\n+10\n\n\n\n\nReported: \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nOperating profit\n\n\n£36.6m\n\n\n£31.0m\n\n\n+18\n\n\n \n\n\n\n\nProfit before taxation\n\n\n£33.4m\n\n\n£28.9m\n\n\n+16\n\n\n \n\n\n\n\nBasic earnings per share\n\n\n33.9p\n\n\n28.2p\n\n\n+20\n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nDividend per share\n\n\n10.6p\n\n\n10.0p\n\n\n+6\n\n\n \n\n\n\n\n \nKey points:\n \n· Good H1 driven by a strong performance in UK and US, partly offset by weaknesses in smaller international markets\n· Underlying operating profit growth of 13% to £40.2m, 5% organically\n· Investment of £32.4m in expansion of temporary road safety barrier fleet and acquisition of ATG\n· Solid cash generation; net debt £169.5m (ex-IFRS 16), 1.6x underlying EBITDA\n· Key infrastructure drivers remain positive and support longer-term growth prospects\n· Interim dividend increased by 6% to 10.6p\n· Board's full year expectations unchanged\n \nDerek Muir, Chief Executive, said:\n \n\"Hill & Sm...