Sales and profits grow for Hill & Smith
Safety barriers and galvanizing group Hill & Smith has reported growth in both sales and profits for 2021.
The group, which has its Hill & Smith barriers business at Springvale Business Park, Bilston, and Joseph Ash Galvanizing in Bilston, Telford and Walsall, saw revenue rise seven per cent from £660.5 million in 2020 to a record £705m.
Pre-tax profit improved 43 per cent from £35.5m to £50.9m.
Hill & Smith, which has its head office in Solihull, said there was a strong recovery in all divisions with trading significantly ahead of the Covid-impacted 2020
Performance was also ahead of pre-pandemic 2019 levels.
Chief executive Paul Simmons said: "In my first full year as CEO I am pleased with the financial and strategic progress we have made. We set out an ambitious agenda a year ago and our people and businesses have responded positively to this, for which I would like to thank them.
"2021 was not without its challenges, particularly supply chain and inflationary pressures. The group navigated these well which is testament to the resilience of our autonomous operating model. Creating sustainable infrastructure and safe transport is core to our purpose and over the course of the year, we have developed an environmental strategy, setting out our path to carbon net zero by 2040.
"In 2022 we expect to make good progress despite the ongoing headwinds and geopolitical uncertainties. In the longer term I am excited about what the future holds given our exposure to the positive macro trends of sustainable infrastructure and safe transport."
The group employs around 4,400 people worldwide across three divisions – roads and security, utilities and galvanizing services.
