Hill & Smith (HILS) Trading Update summary

Executive summary

• Positive trading performance for the four months to 31 October 2025, with full-year expectations unchanged.

• US Engineered Solutions and Galvanizing Services divisions showed strong momentum, while UK markets remained challenging.

• Infrastructure demand in the US continues to drive order book growth.

Financial highlights

• Revenue for the period increased 3% on an organic constant currency basis, compared to 2% in the first half.

• Operating margin percentage improved over the comparative period.

• Cash conversion remained strong throughout the period.

• FY25 underlying operating profit expected to align with analyst consensus of £148.5m (range: £147.3m–£149.8m).

Outlook and guidance

• Full-year profit expected to grow ahead of last year's record levels.

• Group remains on track to deliver continued growth and returns for shareholders into the medium term.

• Preliminary results for the year ending 31 December 2025 scheduled for 11 March 2026.