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Hill & Smith Holdings, PLC Preliminary Audited 2012 Results Announced

Posted by Composite Advantage on Jan 30, 2013

West Midlands, UK – Hill & Smith Holdings PLC, the international group with leading positions in the manufacture and supply of infrastructure products and galvanizing services to global markets, recently announced its preliminary audited results for the year ending on the 31st of December, 2012.  Local composites manufacturer Creative Pultrusions, Inc. (CPI) of Alum Bank, PA, is a group subsidiary of Hill & Smith Holdings, PLC under the group’s Infrastructure Products – Utilities Division.

Derek Muir, Chief Executive of Hill & Smith PLC, stated "I am pleased to report another strong performance from the group's infrastructure products and galvanizing services businesses.  Our strategy of complementing organic growth with selective acquisitions, combined with our significantly greater international spread, resulted in the continued generation of increased earnings, dividends and shareholder value.  Overall 2013 has started slowly, which will lead to earnings being weighted towards the later part of the year, nevertheless the board remains confident that our international diversity will continue to provide resilience in the short term and significant organic growth in the medium to longer term."

In the recent news release, of the annual results, it was stated that the organic growth was driven mainly by Hill & Smith’s U.S. based businesses V&S Utilities and CPI, which benefited from a more active U.S. utilities market.  CPI achieved a record performance delivering a number of large projects in the transmission, rail and cooling tower markets, and further developed high value products for niche infrastructure related markets.  These products attributes include lightweight, corrosion resistant, highly energy absorbing and improved installation times, thereby offsetting traditional materials of construction.

Shane E. Weyant, CEO / President of Creative Pultrusions, Inc, states that “Hill & Smith has strategically supported our growth efforts over the past four years and it has been a privilege to be part of a proactive international group that has helped to enhance our entrepreneurial cultural to respond to new opportunities through an aggressive and innovative development cycle.”

The full announcement can be found at Hill & Smith Holdings PLC website at http://www.hsholdings.com.

Established in 1973, Creative Pultrusions is located in Alum Bank, Pennsylvania, and is a subsidiary of Hill & Smith Holdings PLC, an international group with leading positions in the design, manufacture and supply of infrastructure products and galvanizing services to global markets. It serves its customers from facilities principally in the UK, France, USA, Thailand, Sweden, Norway, India and Australia.  Headquartered in the UK and quoted on the London Stock Exchange (LSE: HILS.L), Hill & Smith Holdings PLC employs some 3,800 staff across 55 sites, principally in 8 countries.