FTSE-250 listed infrastructure engineers Hill & Smith have published full year results this morning. A 5% revenue uplift has been translated into operating profits which are some 20% higher with a material 200bps margin improvement. That’s paved the way for a 14% dividend increase and management are optimistic over the outlook, although 76% of profits were derived from US operations. There’s a belief that infrastructure upgrades mean spending here is secured, with more concern over the variable UK economic climate. Markets seem to be in agreement, with the Hill & Smith share price up more than 11% in the first few minutes of trade.
The FTSE-250 listed direct marketer of promotional products published full year results this morning, along with an advisory that the CFO was standing down at the start of May. Despite positive headline readings – revenues up 3%, pre-tax profits up 10% and cash in hand some 41% higher – investors have been quick to sell down the stock and that’s despite a 10+% increase in the dividend. With the bulk of revenue coming from the US there are concerns over tariff impacts and there’s also the risk that a recession across the Atlantic could stifle demand. The 4imprint share price was trading down 18% in early trade.
The Gold and Silver miner based out of Peru published full year numbers today, showing revenues up 37% and pre-tax profits almost quadrupling to just under $200m. That’s the company’s best performance in 13 years and management are eyeing a further 25% minimum increase in gold production for the year ahead. Assuming underlying prices stay robust, there’s going to be plenty to cheer here. The Hochschild share price was almost 15% higher by 8.30am.
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L&G Full Year Results 2024 Part 1 - - Legal & General Group (LGEN)
