Hill & Smith's (HILS) ties to the global infrastructure boom continue to defy expectations. The engineer confirmed that it outpaced forecasts for the first four months of 2016, resulting in another raft of analyst upgrades and a 12 per cent jump in the share price to 995p.
Powering this latest success was a strong showing from the North American galvanising unit. Volumes there rose 10 per cent, as the group's highest margin business benefited from its Memphis plant coming on board and the extension of a favourable tax regime for users of solar energy.
Complementing this positive update was another strong performance from the UK road arm and the £11m acquisition of Hardstaff safety and security barriers. The pre-cast concrete barriers specialist is expected to be earnings enhancing in its first full year of ownership.
