OVERVIEW
HILL & SMITH HOLDINGS PLC is an international group with leading
positions in the design, manufacture and supply of infrastructure
products, galvanizing services and building and construction
products to global markets. It serves its customers from facilities
principally in the UK, France, USA, Thailand and China.
The Group's operations are organised into three divisions:
 Infrastructure Products Group, focused on the roads, rail, utilities
and security markets supplying products and services such as
permanent and temporary road safety barriers, street lighting
columns, bridge parapets, temporary car parks, “GRP” railway
platforms, variable road messaging solutions, traffic data
collection systems, plastic drainage pipes and pipe supports for
the power and LNG markets.
Galvanizing Services, which provides galvanizing for a wide range
of products including fencing, lighting columns, structural steel
work, bridges, agricultural and other products for the
infrastructure and construction sectors.
Building and Construction Products, supplying products such as
roofing systems, safety handrails and flooring, lintels and doors in
steel and, increasingly, composite materials, all with a range of
uses including large infrastructure projects involving schools and
other public buildings.


The Group’s success has been driven by a focus on service,
innovation and new product development, as well as an
entrepreneurial management culture that encourages individual
businesses to respond quickly and effectively to market
opportunities they identify.
Index:
FTSE Small cap
Sector:
Ticker:
Share Price:
Market Cap:
Broker:
Industrial Engineering
HILS.L
207.00p
£156.7m
Arden Partners
House
Analysts
Rec.
Arden Partners
David Larkham
BUY
Arbuthnot
Michael Blogg
BUY
Evolution
Harry Philips
BUY
Fairfax IS
Jeremy Browne
BUY
Numis
Scott Cagehin
BUY
RESULTS FROM CONTINUING BUSINESSES
(YEAR TO 31 DECEMBER 2008)
Revenue
Underlying
Underlying
Operating Profit Pre-tax Profit
£419.8m
£47.4m
£38.9m
27.4%
28.5%
25.5%
2007: £329.6m*
2007: £36.9m*
2007: £31.0m*
INVESTMENT CASE
•
•
•
Operating in markets being driven by Government
infrastructure spending and regulatory change
Potential for increased share of developed markets and
longer term penetration of developing markets
Focused on delivering innovative products and services
giving value-added solutions from a lean, international
manufacturing base
MANAGEMENT
David L Grove OBE, BA, FCA (Non-Executive Chairman)
Joined the Board on 20 March 1998. He is a shareholder and nonexecutive director of a number of private manufacturing,
distribution and investment companies. He is also a non-executive
Director of Headlam Group plc.
(*Comparative results restated to exclude discontinued businesses of Express Reinforcements)
SHARE PRICE CHART (HS vs. Industrial Engineering)
Derek W Muir BSc, CEng, MICE (Chief Executive)
Joined the Board on 21 August 2006 and appointed Chief Executive
11 May 2007. He has been a senior manager within the Hill & Smith
Group for many years. He was appointed Managing Director of Hill
& Smith Limited, one of the Group’s principal subsidiaries, in 1998.
From 2001 to 2007, he was the Managing Director of the core
Infrastructure Products Group.
Mark Pegler BCom, ACA (Finance Director)
Joined the Company as Finance Director designate on 7 January
2008 and was appointed to the Board on 11 March 2008. He has
extensive experience on an international level having been Group
Finance Director of Whittan Group Limited. He also spent several
years in various corporate and operational roles in international
manufacturing businesses.
Source: Hemscott
GROUP DIVISIONS
Infrastructure Products Group
The Group supplies a wide range of products
and services such as permanent and
temporary safety barriers, street lighting
columns, temporary car parks, variable road
messaging solutions, railway platforms,
traffic data collection systems, plastic
drainage pipes and pipe supports.
Revenues
£191.8m
Demand is being driven by central and local
governments’ investment in infrastructure
including congestion solutions, signage
improvements and road widening.
Revenues
Galvanizing Services
£127.1m
The Group provides services from a network
of 26 galvanizing operations in the UK,
France and USA.
The galvanizing process is applied to a range
of products including barriers, fencing, pipe
and other products for the infrastructure
and building sectors.
Revenues
Building and Construction Products
£100.9m
The Group supplies a range of building and
construction products including roofing
systems, safety handrails and flooring, lintels
and doors.
Products are supplied for a range of uses
including large infrastructure projects
involving schools and other public buildings.
RECENT NEWS FLOW
HILL & SMITH FACTS
Jock Lennox Appointed Non-Executive Director (27 April 2009)
Former Partner of Ernst & Young, Jock Lennox has been appointed

Non-Executive Director following the retirement of Dick Richardson.

Set to Benefit from $787 billion US Stimulus Bill (18 March 2009)
Hill & Smith provides infrastructure products to sectors that will

benefit from additional investment including highway infrastructure
of $27.5 billion, and energy grid spend of around $17 billion.
Record Results (10 March 2009)

Record revenue, profit and dividend. Underlying pre-tax profits in
2008 rose by 25.5% to £38.9m on revenues that were up by 28.5%

to £419.8m. Dividend per share rose 14.9% to 10p. The Group is
now a different composition to five years ago, with 35% of revenues
and 50% of profits coming from international operations.
wholly owned subsidiary Express Reinforcements Ltd to Celsa Steel
Contacts:
John Humphreys, Company Secretary
Service Ltd.
Email:
enquiries@hsholdings.com
Tel: 0121
704 7430 www.hsholdings.com
USA Developments
(12 September
2008)
Expansion of H&S operations in the USA and Hill & Smith Inc. brand.
Financial
PR Advisers:
Hogarth
Partnership:
Acquisition
of Creative
Pultrusions
Inc. John Olsen / Barnaby Fry / Vicky Watkins
Email: hsholdings@hogarthpr.co.uk Tel: 020 7357 9477
3,400 employees
54 sites in 5 countries
35% of revenues and 50% of profits coming from international
operations
148 kilometers (92 miles) of temporary barriers in service
Manufacture the largest plastic pipe in the world (3.5m diameter)
Hill & Smith Holdings PLC
Westhaven House
Arleston Way
Shirley, Solihull
B90 4LH
*Data correct as of 24 June 2009