Engineering group Hill & Smith increased its pre-tax profits by £15m as it delivered a record set of results.
Chief executive Derek Muir believes there is more to come from the Shirley-based group as he expects 2017 to be “a year of progress”.
Revenues were up 16% to £540.1m in 2016, with pre-tax profits rising 45% to £48.3m.
“Hill & Smith has delivered its best ever trading performance in 2016 with infrastructure spending in our key UK and US markets remaining strong,” Muir said.
“Our performance continues to be underpinned by our tried and tested strategy of international diversity together with the leading positions our businesses hold in their respective markets. Rising infrastructure investment, together with our focus on active portfolio management to drive shareholder value, resulted in record returns.”
