Hill & Smith Holdings PLC, the international group with leading positions in the supply of infrastructure products and galvanising services to global markets, said performance of the group between July 1 and November 14, 2012, had been “robust”.
Net debt as at 31 October 2012 was £93.3m, compared with £89.1m as reported at the half year. The increase, revealed in Hill and Smith’s Interim Management Statement, was said by the Group to principally reflect its investment in a new galvanising plant in the USA, and investment in capital projects in France and India.
A company spokesperson said the Group was not anticipating any significant change to net debt ahead of the end of 2012, and that “international diversity” and strength of our businesses, particularly in the USA, continued to underpin Hill and Smith performance.
On the Group’s UK road project programmes, the spokesperson added: “As expected, the programmes for UK roads have started to return to more normalised activity levels in the fourth quarter post the Olympics. In the [Interim Management Statement] period we completed the installation of our new gantry products on the M1 and M90 motorways and are currently in the process of concluding the contracts. We continue to expect 2013 to be a stronger year as a number of managed motorway schemes are planned to commence.”
Net debt as at 31 October 2012 was £93.3m, compared with £89.1m as reported at the half year. The increase, revealed in Hill and Smith’s Interim Management Statement, was said by the Group to principally reflect its investment in a new galvanising plant in the USA, and investment in capital projects in France and India.
A company spokesperson said the Group was not anticipating any significant change to net debt ahead of the end of 2012, and that “international diversity” and strength of our businesses, particularly in the USA, continued to underpin Hill and Smith performance.
On the Group’s UK road project programmes, the spokesperson added: “As expected, the programmes for UK roads have started to return to more normalised activity levels in the fourth quarter post the Olympics. In the [Interim Management Statement] period we completed the installation of our new gantry products on the M1 and M90 motorways and are currently in the process of concluding the contracts. We continue to expect 2013 to be a stronger year as a number of managed motorway schemes are planned to commence.”
