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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Hill & Smith

October 2013

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:
  • 447p
We had originally hoped that Hill & Smith's large exposure to the recovering US economy would boost demand for its infrastructure products but the shares remain stuck near where we napped them back in February reflecting interims  slightly below expectations. For the six months to 30 June pretax profit was down 11% to £18.5m while eps fell 10% to 17.7p. Following the acquisition of Medway Galvanising in the period net debt rose from £87m to £102.5m.Infrastructure products, which supplies “above ground†steel-based infrastructure such as road safety barriers, gantries and variable message signs for motorways, saw a 25% reduction in profit to £7.9m. This was mainly due to lower than expected orders for pipe supports, ...

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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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