StockMarketWire.com - Infrastructure supplier Hill & Smith posted a fall in first-half profit and downgraded its annual guidance after adverse weather led to project delays.

'While order books support a good second half, we now expect the performance for the remainder of the year to be more in line with our original expectations as set out in our 2017 preliminary results announcement,' the company said.

'As a result, we do not expect to recover the shortfall experienced in the first half.'

For the six months to 1 July, reported pretax profit fell 14% to £28.9m and revenue rose 1% to £295.4m.

First-half results were below those expected at the time of the company's May trading statement as adverse weather caused short-term project delays in UK's roads programme and utilities market.

The company declared an interim dividend of 10.0p per share, up 6% on-year.

At 8:10am: [LON:HILS] Hill Smith Holdings PLC share price was -278p at 1192p



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