The Board of Hill & Smith Holdings PLC is pleased to announce a further improvement in the Group's financial performance during the period ended 30 June 2002:
Highlights
- Profit before exceptional items and goodwill amortisation up 11.5%
- Adjusted earnings per share up 14.9%
- Interim dividend 2.1p (2001: 2.1p)
- Net operating cash flow £9.0m
- Further reduction in net debt
- Completion of two acquisitions after the period end
Chairman David Winterbottom said: "We continued to pursue our strategy of focusing on construction, building and transport infrastructure products, where we see many opportunities for growth.
"The Building and Construction Products division made further progress and is making an ever-increasing contribution to the Group's overall trading profits.
"Our capital investment and product development programmes continue to provide improving returns against a background of steady levels of demand and increasing infrastructure spend in the public sector, particularly in transport.
"Subject to there being no adverse changes in market conditions, we look forward to a satisfactory outcome for the full year."
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