- Hill & Smith maintained its outlook for the year despite reporting lower revenue and operating profit for the first four months of the year compared to the prior year as the strength of sterling and weaker performance in the UK weighed.

For the period 1 January 2018 to 30 April 2018, the firm reported revenue of £185.1m, down from £191.3m, the prior year. It blamed the poor performance on the strength of sterling, adding that positive trading in its international business was offset by weaker performance in the UK.

Since mid-March, the group had experienced improved order intake across its UK road and utilities businesses while it continued to record strong performances in both the US and French operations, the firm said.

'Despite project delays and the weather-impacted start to the year in the UK, conditions across our principal markets continue to be favourable. Overall, despite political and macroeconomic uncertainties, the Board reconfirms that its expectations for the full year remain unchanged, albeit with a greater second half bias,' said Derek Muir, Group Chief Executive.

At 8:53am: [LON:HILS] Hill Smith Holdings PLC share price was -176p at 1294p

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