Hill & Smith improves to pounds 5.5m

The mini-industrial conglomerate Hill & Smith Holdings saw profits jump 16.5 per cent in the year to September, despite a slowdown in the UK market for some industrial products. Pre-tax profits increased from pounds 4.8m to pounds 5.5m after a 14.5 per cent rise in sales to pounds 87.8m.

After a 25 per cent increase in earnings per share to 10.78p, the dividend was maintained at 6.2p. With continued growth in Hill's new ventures in plastic pipe and pipe supports and a return to the black for its French forging business, the company forecasts further gains in the current year.