LONDON (ShareCast) - (ShareCast News) - Infrastructure products and galvanising services company Hill & Smith Holdings announced its audited results for the year to 31 December on Wednesday, with revenue rising 16% to £540.1m, or 9% at constant currencies.
The FTSE 250 firm's underlying operating profit was up 26% to £70.6m, or 17% at constant currencies, with its operating margin improving 110 basis points to 13.1%.

Profit before tax rose 28% to £68m, or 18% at constant exchange rates, while underlying earnings per share were 27% higher at 65.9p, or 18% at constant currencies.

On a reported basis, operating profit improved 29% to £51.8m, profit before tax was up 45% at £28.3m, and basic earnings per share were 39% firmer at 43p.

The board confirmed a 28% rise in the dividend per share to 26.4p, while net debt widened during the year to £112m from £91.5m.

"Hill & Smith has delivered its best ever trading performance in 2016 with infrastructure spending in our key UK and US markets remaining strong," said chief executive Derek Muir.

He explained that the company's performance continued to be underpinned by its "tried and tested" strategy of international diversity, together with the leading positions its businesses held in their respective markets.

"Rising infrastructure investment, together with our focus on active portfolio management to drive shareholder value, resulted in record returns.

"Overall, despite political and macroeconomic uncertainties, 2017 is again expected to be a year of progress."

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