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"We believe the market has overreacted to Hill & Smith’s exposure to the UK, which provided 47% of operating profits in 2015. This is protected by committed spending on roads and infrastructure projects. At the same time, US profits, which accounted for 45% of 2015 profits, will benefit substantially from translation into sterling, should the current pressure on the cable continue." frm a Panmure broker note out this morning on research tree
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