Billington Holdings confident over its long-term strategy

Structural steel firm Billington Holdings '‹said '‹the Brexit vote has affected a small number of projects, but it sees a large number of '‹big opportunities in the market and '‹its long-term strategy has not been '‹hit.'‹ '‹
By The Newsroom
Published 20th Sep 2016, 20:48 BST
Updated 4th Oct 2016, 14:01 BST

The Barnsley-based firm​ reported a strong first half and said it has the longest forward order book in the ​company​’s history​.​

The firm, which supplied the steel for the Royal Shakespeare Company’s award-winning Stratford-upon-Avon theatre, is busy working on a number of major projects such as a new Ikea store in Sheffield and a number of high rise commercial properties at Wellington Place in Leeds.​

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Talking about Brexit, the group’s CEO Mark Smith said: “At the moment developers are taking a pause from committing to proceed on some isolated projects.

“We haven’t had anything cancelled. They may wait until they have a significant number of pre-lets.

“When we heard the Brexit vote, we had two projects put on pause. Now we’ve had a request to update some pricing with a view that they will proceed in 2017.

“Enquiry levels are still very good and the quality is good. We are being very careful, but we are encouraged.”

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Revenue rose 10 per cent to £27m in the six months to June 30 and pre-tax profits rose 2.4 per cent to £1.7m.

Billington said it has strengthened its forward order book which now provides visibility towards mid-2017.

Related topics:BrexitBarnsleySheffieldIkea