Billington Holdings' show of steel

STRUCTURAL steel specialist Billington Holdings reported a 46 per cent rise in profits yesterday but said that it remains cautious amid challenging markets.
By The Newsroom
Published 11th May 2010, 22:59 BST
Updated 11th May 2010, 22:59 BST

The Barnsley-based company, which supplied steel to the Royal Shakespeare Company's Stratford-upon-Avon theatre, said its full-year pre-tax profit for 2009 increased to 5.3m from 4.1m, while revenue declined to 57.2m from 60m.

The Barnsley-based company said it completed its corporate restructuring with the disposal of non-core, loss-making businesses, Dosco and Hollybank, and its cash balance at the end of the year doubled to 8.5m compared to 4m the previous year. Executive chairman Peter Hems said: "The disposal of our loss making non-core assets allows us to focus on our main business of structural steel and building safety systems.

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"We have continued to build our presence in the health, defence and education markets and are particularly pleased with our progress with private sector clients including supermarkets. Our forward order book has improved and the increased visibility this gives us means we are cautiously optimistic about our prospects in 2010."

Earnings per share were 13.5 pence, down from 28.2 pence in the previous year period. The board proposed a dividend of 6.75 pence per share.

Related topics:Barnsley