LONDON (ShareCast) - (Sharecast News) - Infrastructure product supplier Hill & Smith said it was not currently seeing any significant impact from US tariffs, adding that any raw materials cost increases had been offset by price rises.
The company on Thursday also said trading in the first four months of the year was in line and it expected to meet full-year consensus earnings estimates. Revenue was 3% higher on a constant currency basis, with further operating margin expansion against a strong prior period comparator.

"With around 95% of our materials being sourced in the US and less than 1% of revenue from US exports, we have low direct exposure to the tariffs announced so far," it added.

"Where raw material cost increases are coming through, our businesses have been able to mitigate this by raising prices. We have not seen any indication of reduced activity levels or delays to projects, supporting our confidence that the structural drivers for US infrastructure growth remain intact."

Trading in the period had been positive and in line with expectations, reflecting continuing robust market demand for infrastructure products in the US and a resilient performance in the UK despite a subdued market backdrop.

Current company-compiled analyst consensus expectations for the full year is for underlying operating profit of £150.3m with a range of £145.4m-£154.0m.

Reporting by Frank Prenesti for Sharecast.com

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