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(Alliance News) - Hill & Smith Holdings PLC on Thursday reported that it is overcoming supply chain issues in a "robust" trading performance and remains on target to deliver full year 2021 profit guidance.
Trading during the four month period to October 31 has been resilient, the group said, with revenue of GBP237.1 million, 4% ahead of last year on an organic constant currency basis.
Shares were trading down 2.4% at 1,822.00 pence each in London on Thursday morning.
Solihull, England-based Hill & Smith makes safety infrastructure for transport, such as roadside crash barriers.
The FTSE 250-listed firm noted supply chain headwinds relating to the availability of materials and labour continued to be "appropriately managed", with price increases implemented to help offset input cost inflation.
"Based on the trading performance to date, the group remains on track to deliver full year 2021 underlying operating profit in line with analyst consensus expectations," Hill & Smith said. "The board remains confident in the medium to longer term outlook for the group, supported by strong growth drivers for both sustainable infrastructure and safe transport."
The current consensus expectation for annual underlying operating profit is GBP85.9 million.
The group's annual results are scheduled to be announced on March 10.
By Will Paige; willpaige@alliancenews.com
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