Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.
By Iain Gilbert
Date: Monday 30 Sep 2019
LONDON (ShareCast) - (Sharecast News) - Infrastructure products supplier Hill & Smith has bought parking and access control products manufacturer Parking Facilities for £12.4m in cash.
Hill & Smith made the acquisition, which it funded from existing debt facilities, on a debt and cash-free basis.
In the year ended 30 November, Parking Facilities reported revenues of £10.8m, underlying earnings of £2.1m and net operating assets of £3m.
The FTSE 250 company said it expects the acquisition to be earnings enhancing in the first full financial year following completion.
Chief executive Derek Muir said: "Parking Facilities has a wide range of high-quality products that complement our existing Hostile Vehicle Mitigation and related security product offering, enabling us to provide comprehensive perimeter security solutions to customers in both UK and international markets."
As of 0825 BST, H&S shares had inched ahead 0.40% to 1,250p.
|52 Week High||1,510.00p|
|52 Week Low||901.00p|
Compare performance with the sector and the market.
|Time||Volume / Share Price|
|16:35||29,231 @ 1,384.00p|
|16:29||39 @ 1,374.00p|
|16:29||125 @ 1,376.00p|
|16:29||10 @ 1,382.00p|
|16:29||15 @ 1,382.00p|