Hill & Smith reports 'strong' 2025, hails acquisitions; ups dividend

Hill & Smith PLC on Wednesday reported improved earnings and revenue in 2025 and declared an increased dividend, leading shares higher.

The Solihull, England-based infrastructure products provider reported revenue of £868.8 million in 2025, up 1.6% from £855.1 million a year prior. Pretax profit climbed 6.5% to £111.3 million from £104.5 million. Earnings per share improved to 102.7 pence from 95.0 pence.

Chief Executive Officer Rutger Helbing said: ‘The group has delivered a strong performance with momentum accelerating in the second half of the year. In particular, our US platform businesses have delivered another year of excellent growth and margin expansion.’

‘We remain in a very robust financial position, with the group highly cash generative and continuing to deliver strong returns for shareholders,’ CEO Helbing added, saying the ‘disciplined approach to capital allocation enables us to invest for organic growth and pursue an attractive pipeline of M&A opportunities’.

Hill & Smith celebrated its ‘successful’ mergers & acquisitions strategy, highlighting the £27 million deal to acquire an 80% stake in Freeberg Industrial Fabrication Corp and the £6.4 million buy of Hentech Fabrication Ltd.

The company said it continues to have an active M&A pipeline.

Looking ahead, Hill & Smith said it is ‘confident of making further good progress in [2026] and beyond,’ marked by strong US momentum.

However, it ‘remains cautious about the degree of recovery in UK market conditions and level of project activity,’ the company said.

Hill & Smith has declared a 2025 dividend 53.0 pence per share, up 8% from £49.0 pence in 2024.

Hill & Smith shares closed up 0.7% at 2,260.00 pence in London on Wednesday, bringing its market capitalisation to £1.79 billion. Its shares are up 30% over the past 12 months.

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