The slowdown in the UK road business in the year to date has pushed the group into decline with an 11% H118 fall in operating profit (-7% constant FX). FY18 results will be skewed to the H2 as a result. Whilst the reliance on a strong H218 may unnerve sentiment short term, we would be buyers into any weakness (off 20% at time of writing) given catalysts to medium term growth alongside the defensive characteristics to earnings.
08 Aug 2018
H118 Results
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H118 Results
Hill & Smith PLC (HILS:LON) | 1,935 -77.4 (-0.2%) | Mkt Cap: 1,554m
- Published:
08 Aug 2018 -
Author:
Ben Thefaut -
Pages:
2
The slowdown in the UK road business in the year to date has pushed the group into decline with an 11% H118 fall in operating profit (-7% constant FX). FY18 results will be skewed to the H2 as a result. Whilst the reliance on a strong H218 may unnerve sentiment short term, we would be buyers into any weakness (off 20% at time of writing) given catalysts to medium term growth alongside the defensive characteristics to earnings.