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Hill & Smith - Acquisition strengthens US business

October 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • HILS
  • Price:
  • 311p
The acquisition on 26 August of US-based Creative Pultrusions for up to US$21m further strengthened Hill & Smith's share price, after its earlier rally on the back of strong results. Creative Pultrusions, which manufactures glass reinforced products, generated EBITDA of US$3.7m on turnover of US$32.7m in the year to 31 August 2007 and is expected to be eps enhancing in its first full year. Investors were also relieved by Hill & Smith's excellent interim results, which have, at least for the moment, assuaged fears that poor Government finances would lead to a sharp decline in highways investment. For the six months to 30 June revenue rose 50% to £264m, leading to a 46% increase in pretax profit. Underlying eps were up 22% ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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