Currency moves helps engineering group maintain revenue growth

Favourable currency translations has helped Hill & Smith grow its revenues in the opening four months of the year.

The engineering group has updated the stock market ahead of its AGM today. It does so with its market value being above £1bn and its share price closing last night at 1359p, near to its record high.

Derek Muir, group chief executive, said: “The group has delivered a solid start to the year despite mixed end market conditions.

“Overall, conditions in many of our infrastructure markets remain favourable and we continue to expect to report good progress in 2017 in line with our expectations.”

Revenues for the four months to April 30 was £191.3m, a 7% increase after adjusting for currency movements and acquisitions and disposals.

The group said underlying operating profit and operating margin are “ahead of the same period last year”.