Hill & Smith's (HILS) focus on galvanised steel motorway crash barriers and other niche infrastructure products around the world has kept trading strong since the half-year. Demand for galvanised steel was firm in the US as the electricity grid is updated and the worldwide demand for power drives Asian growth. Hill & Smith's plants in China and Thailand are at full capacityat least until the first quarter of 2013.
Trading is tougher in the UK as overcapacity in the water utility sector depresses profits, but Hill & Smith expects road work to be stronger next year as a number of schemes start after the London Olympics hiatus. Investment in new galvanising plants in the US, and plants in France and Asia resulted in net debt rising £4.2m, to £93.3m by the end of October.