Record half year sales for Hill & Smith
Specialist engineering group Hill & Smith Holdings, which makes its motorway crash barriers in Bilston,saw pre-tax profits rise by 73 per cent in the first six months of this year.
The group, which also owns Joseph Ash Galvanizing with sites in Bilston and Walsall, made £33.5 million on sales which were up 13 per cent to £291.8m
It was a record first half year for revenue for the group which has its headquarters at Solihull and its Hill & Smith barriers operation at Springvale Business and Industrial Park.
Chief executive Derek Muir said: "Hill & Smith continues to deliver a strong performance, again underpinned by our tried and tested strategy of international diversity together with the leading positions our businesses hold in their respective markets.
"Rising infrastructure investment, together with our focus on active portfolio management to drive shareholder value, resulted in record returns in the first half.
"Overall, despite increased political and macroeconomic uncertainties, our expectations for the year remain unchanged and we continue to expect 2017 to be a year of good progress."
The board has declared an interim dividend of 9.4p per share, an 11 per cent increase on the same period last year.
The group, which employs 4,100 across seven countries. says it still remains too early to assess with any certainty the impact of the decision by the UK to leave the European Union. In the period since the referendum result in June last year it has not experienced any material positive or negative impact.
