Good Information, this appears to be a cheap stock was in my portfolio, sold at nearly 400 but am back in now, undervalued as not greatly affected by banking woes or housebuilders very big in infrastructure and petrochem...not a flier but good solid stock undervalued for no logical reason I reckon imho? ...anybody got any others like this that have got caught up in the stockmarket lows and are pretty well unaffected by the real world problems?

Final Results

Key points:



· Record revenue and earnings performance

· Revenue increased 5% organically; by 2% on a reported basis after £13.3m adverse currency translation

· Stronger end markets and active portfolio management driving improved returns

− Underlying operating margin 10.8%, up 80bps on prior year

− ROIC increased to 16% (2013: 15%)

· The UK Road Investment Strategy (RIS)† provides significant mid-term funding; in sweet spot of Group's product offering

· Capital investment at 2.4 x depreciation, to capitalise on specific growth opportunities in UK roads and US galvanizing

· Net debt reduced to 1.5 x EBITDA; key financing facility extended to 2019 on more favourable terms

· Proposed final dividend of 11.6p, up 16% giving full year dividend of 18.0p

Questor-share-tip-Hill-and-Smith-shares-still-too-cheap

10 Mar Numis 675.00 Add
10 Mar Investec 690.00 Buy
10 Mar N+1 Singer 723.00 Buy

2 Jul Investec 750.00 Add

Half yearly report

Key points:



· Continued strong trading, +5% organic revenue growth; underlying operating margin +120bps to 11.3%

· 82% of revenue and 92% of underlying operating profit generated from UK and US operations, where infrastructure investment and economic outlook remain favourable

· Underlying operating profit up 17% to £26.3m:

- Roads up 35%, driven primarily by the UK Government's 'Road Investment Strategy' with its focus on managed motorways, which are at the core of the Group's product offering

- Utilities up 13%, reflecting strong performance in the UK offsetting weaker pipe supports performance

- Galvanizing up 10% as a result of exceptional growth in US infrastructure volumes

· Further net debt reduction to £89.2m (2014: £98.5m); Net Debt:EBITDA multiple of 1.3 times (31 December 2014: 1.5 times)

· Interim dividend increased by 11% to 7.1p

6 Aug Investec 800.00 Buy
6 Aug N+1 Singer 723.00 Buy
6 Aug Numis 720.00 Hold