Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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http://investegate.co.uk/Article.aspx?id=201103090700145787C
Commenting on the results and outlook Derek Muir, Chief Executive, said: "These resilient results, in the face of challenging trading conditions, demonstrate the benefits of our ongoing strategy to reshape and grow the Group internationally and at the same time strengthen its financial position. The Group's geographical footprint has been progressively broadened with operations in the UK, France, USA, Thailand and China, and a developing position in India. In particular the benefits of investment in our US Galvanizing Services businesses are showing through with strong trading in this market. As expected, trading in the first two months of the year has continued to be challenging. However, we have recently seen a strong order intake in our utilities businesses and, therefore, our views of the overall results for the full year remain unchanged. In the medium to longer term, we remain confident that our business model and strategy for international expansion will continue to deliver attractive growth and value. We will continue to seek out profitable long term growth opportunities where we can leverage our scale and expertise. We are therefore delighted to also announce today the acquisition of a North American pipes supports business, The Paterson Group, Inc., which not only gives us a well established presence in the US nuclear and thermal power generation market but, when combined with our existing pipe supports businesses, creates a leading global player in this niche market. The Group is lean, well financed, has excellent positions in its core markets of Infrastructure Products and Galvanizing Services, and a clear focus on further expansion in international markets with clear long term growth dynamics."
Key points · Results reflect the benefits of a broader geographical footprint - 55% of underlying operating profit* now generated from non-UK operations · A weaker performance in the utilities business was off-set by a strong performance in Galvanizing Services, particularly in the final quarter · Rationalisation of operating plants in the UK flooring business, UK galvanizing and utilities fabrication in the USA, contributed to lower operating costs · Strong management of cash and working capital with net debt at the year end down to £70.6m · Dividend for the year at 12.7p, up 10.4% · Today's significant pipe supports acquisition represents a step-change in our position in the utilities market and provides immediate access to nuclear power plant projects
http://investegate.co.uk/Article.aspx?id=201103090700105785C
Hill & Smith acquisition pleases Date: Wednesday 09 Mar 2011 LONDON (ShareCast) - Shares in infrastructure and building products supplier Hill & Smith rose despite a 4% fall in revenue for 2010, after it announced the acquisition of The Paterson Group (TPG). The group acquisition of TPG, the North American pipe manufacturer, for $45m, in will help Hill & Smith create a global pipe supports business. “As well as making us a significant player in the North American market, TPG gives us an established presence in the highly regulated nuclear power industry both in the US and globally,” said chief executive Derek Muir. In a separate statement, full-year revenues fell 4% after the second half saw more challenging conditions due to the uncertainty created by government cuts in the final quarter. Turnover for the year ended 31 December fell from £389.7m to £374.2m as increased sales in galvanizing services were offset by lower sales in infrastructure products. The decline was also attributable to the disposal of Ash & Lacy Perforators in December 2009. Group pre-tax profit for the period fell to £35.3m, from £39.7m, while underlying pre-tax profit was flat at £42.2m. The infrastructure division was hit by the comprehensive spending review in October with revenues falling 5.9% to £190.5m due to delays in customer capital expenditure plans. Basic earnings per share fell 12% from 32p, while the total dividend was increased 10% to 12.7p.
Anyone shorting?
This is very bad news!!! Profit warnings are very serious!!! A recent example of two companies that gave profit warnings within the last 12 months are ROK and Connaught!! Steer CLEAR!! IMHO
why the sharp drop in the last few days anyone know whats going on
great post BananaBoy - funny trading here this week - what's up? Gerbil
steady rise.. think more to follow
http://www.investegate.co.uk/Article.aspx?id=200904270800011466R
Watch this one guys !!
many buys.. yet no movement ??
Why has the price of this share gone down its not really in the building sector its in infrasturcture and views on its future