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Hill & Smith PLC - Solihull, West Midlands-based infrastructure products and services - Revenue in the four months that ended October 31 is up 15% at constant currency rates and up 7% organically at constant currency, thanks especially to a strong US business. Hill & Smith says operating profit margin also has improved. As a result, expects 2023 operating profit to be ‘slightly ahead of the top end’ of the range of current market expectations, which Hill & Smith places at £116.0 million to £118.6 million. This would be up by as much as 22% from underlying operating profit of £97.1 million in 2022. Statutory operating profit in 2022 was £78.5 million. Hill & Smith expects to start 2024 with ‘positive momentum’. It has continued to generate cash and has reduced debt. Current stock price: 1,783.21 pence, up 1.4% in London on Tuesday 12-month change: up 58% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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