Highlights

  • HILS’s FY24 revenue increased by 3.0% YoY due to improved volume growth in its high-margin US business.
  • The company recorded an operating profit of GBP 143.50 million for the period.
  • HILS has completed four strategic US acquisitions valued at GBP 58.5 million, contributing to revenue and operating profit.

Hill & Smith PLC (LSE: HILS) is an FTSE 250 company providing sustainable infrastructure solutions across galvanizing, engineered, and road safety segments.

In the financial year 2024 (FY24), the company’s revenue increased by 3.0% YoY to GBP 855.10 million, due to improved volume growth in its high-margin US business. Operating profit surged by 17.1% YoY to GBP 143.50 million, primarily driven by a favourable sales mix and margin expansion, mainly from US operations. Profit before tax rose by 18.5% YoY to GBP 132.60 million, up from GBP 111.90 million in FY23.

Recent Business Update

Hill & Smith has completed four strategic US acquisitions valued at GBP 58.5 million, contributing to revenue and operating profit, showing positive initial trading and expanding its presence in the structurally growing infrastructure market in FY24.

The company’s galvanizing services performed well, with volume gains in both the US and UK despite early weather challenges. Cash generation continued to improve, and the group maintains a healthy balance sheet with ample capacity to support growth initiatives.

Company Outlook

The company expects its FY25 operating profit to align with the current analyst consensus. Tariffs are expected to have minimal direct impact due to low export exposure and high domestic sourcing, while price adjustments have mitigated rising input costs without affecting project momentum.

With 76% of FY24 profit generated from the US, Hill & Smith’s continued infrastructure upgrades, data center projects, and clean energy investments are expected to support ongoing momentum in FY25. The operating margin target has been revised upward to over 18%, reflecting management’s confidence in structural growth and portfolio refinement.

Top 10 Shareholders

 The top 10 shareholders together hold approximately 37.86% of the total shares. BlackRock Investment Management (UK) Ltd. has the largest stake at around 7.71%. abrdn Investment Management Limited follows with a stake of about 6.11%.

Stock Information

The stock price has fallen by approximately 4.69% over the past month. Over the last six months, the decline has been approximately 13.13%. The 52-week high is GBX 2,330.00, while the 52-week low is GBX 1,463.96. As of 10 June 2025, the stock closed at GBP 1,746, trading below the midpoint of its 52-week range.

 

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 10 June 2025. The reference data in this report has been partly sourced from EODHD/Others.

 Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.