- Hill & Smith Holdings reports record results for the year to the end of December and confirms a positive outlook for 2016.

Revenues rose by 3% to GBP467.5m. Underlying operating profits rose to GBP56.0m - up 14% on a reported basis and 12% at constant currencies. Operating margins increased to 12.0% from 10.8% last time.

Underlying pre-tax profits of GBP53.0m were 15% up on a reported basisand 13% higher at constant currencies.

Chief executive Derek Muir said: "2015 has been another excellent year of progress for Hill & Smith and, despite uncertain economic conditions, we delivered profit growth ahead of our earlier expectations.

"Our strategy of international diversity and the strength of our businesses within their respective markets continues to underpin our performance. Our USA and UK operations - which combined represent more than 90% of our underlying operating profit - grew strongly on the back of increasing infrastructure investment.

"Overall, although some markets remain challenging, 2016 is again expected to be a year of good progress."

At 8:10am: [LON:HILS] Hill Smith Holdings PLC share price was +32.5p at 782.5p

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