Billington Holdings confident over its long-term strategy

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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.​ ​

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.​

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.”

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.