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Building products supplier records strong year
By Ashley BrunskillContractors are learning that building infrastructure product supplier Hill and Smith announced a strong yearly performance today (March 9th).
Although revenue and underlying profits were down from 2008, the company did manage to reduce its net debt by almost £60 million in 2009.
The company''s strong showing was aided by highway maintenance programmes across the UK as well as increased demand for Stronguard security fencing which it manufactures.
Derek Muir, chief executive of Hill and Smith, said that despite "difficult" economic conditions the company was able to maintain productivity both in Britain and around the world.
He added: "In the UK we aim to maximise opportunities arising from committed spend on major infrastructure projects such as managed motorway programmes, rail platform extensions, flood alleviation schemes, and health and safety on roads."
Former chairman David Grove said in August last year that "resilient markets" and expansion into emerging markets such as China have placed the company in a "sound financial position".
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