Hill & Smith (HILS) Full Year 2023 results presentation - March 24
Hill & Smith Executive Chair, Alan Giddins and Chief Financial Officer, Hannah Nichols present results for the year ended 31 December 2023.
Watch the video here:
Or listen to the podcast here: |
Hill & Smith drives US revenues and profits
BUY
article.... |
Hill and Smith plc posted healthy FY results for the year ended 31st December this morning. Revenues were up 13% to £829.8m, underlying PBT was up 27% to £111.9m and statutory EPS was up 29% to 86p. A final dividend of 28p was proposed, up 27% on the year, making a total dividend of 43p. The balance sheet remains solid with covenant leverage at 0.4x EBITDA allowing plenty more scope for organic and acquisitive expansion. Indeed, there has been more positive momentum on M&A in 2024 year to date with a further £11.6m investment across two acquisitions completed and the M&A pipeline is healthy. Valuation is no longer cheap with forward PE ratio at 17.1x, but the share price remains in an 18-month uptrend. BUY...
...from WealthOracle |
Executive Chhairman buying this morning
3,900 at £18.9381641 |
An interesting and encouraging Results webinar this morning, very US orientated and outlook - which is not surprising, really. Poorly old Blighty... |
Splendid :-)
And todays acquisition.... |
Yes great results and prospects.
Only wish I had more.
Suet |
good results, secular drivers, gearing up for more m and a by the looks of it. |
Results in the morning |
JP Morgan over 5% |
Safety barrier maker Hill & Smith received a vote of confidence from analysts at Jefferies who urged clients to buy, as they believe it can rise even higher.
The investment bank said the group is doing its best to capitalise on the ‘generational infrastructure investments’ in the US, such as the Inflation Reduction Act, which should drive growth over the next few years. Shares rose 1.3 per cent, or 24p, to 1874 p.
Mail market report |
And dividend paid into the account today :-) |
Nope , heading south again. Little volume though. |
Bit of a shocker today . Let's see if it bounces back in the morning. |
No worries here, GLA. |
Yep we've had a very good run.
So no complaints from me.
Suet |
or just the old "travel and arrive" syndrome |
Not gone down too well by the look of it ;-) |
Investor Seminar thursday |
xd tomorrow morning for the 15p dividend |
Continuing the policy.
When quizzed at the AGM before last, they said that acquisitions would be concentrated in the US and indicated the sort of amounts that they would be prepared to pay.
They are trying to build a business sector, the Creative Composites Group.
The purchase will... "further accelerate our strategy in this exciting and growing market, expanding our customer base and product range, while also providing additional manufacturing capability and purchasing synergies."
It makes a lot of sense, especially as it is "expected to be earnings enhancing to the Group in 2024." That should mitigate any risk. Gaving Hiks behind them should certainly accelerate things.
All positive.
red |
Hill & Smith expects the purchase to be earnings-enhancing next year.
‘Hill & Smith’s recent acquisitions have performed well (three of the four ahead of expectations) and we expect the market will welcome this well-timed/priced transaction,’ analysts at Jefferies commented. |
Nice acquisition announced..
United Fiberglass, located in Springfield, Ohio, is a designer, manufacturer and supplier of composite pipe, conduit, and bridge drain infrastructure systems. Its products, with a combination of high strength, lightweight and resistance to corrosion can be found in a wide range of application environments, above and below ground, including those serving utility, infrastructure, transportation and industrial markets across the US. |
Berenberg raises Hill & Smith price target to 2,100 (2,000) pence - 'buy'
HSBC raises Hill & Smith price target to 2,055 (1,955) pence - 'buy' |
Touched 18 this morning: I can see this going to £20 by spring. |
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