Billington upbeat about 2016 results as orders surge

Billington CEO Mark Smith sees a bright future ahead
Billington CEO Mark Smith sees a bright future ahead
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​​S​tructural steel ​firm ​Billington Holdings ​said results for 2016 ​are likely to be significantly ahead of current market expectations​ following an improvement in the first half of the year.

The Barnsley-based firm​ said its order book has continued to strengthen, providing good visibility beyond the end of the current financial year​.

​It added that​ good early progress has been made at Shafton Steel following the acquisition of the site ​last​ December.

​​Billington reported its ​strongest annual results in five years​ ​in March and​ decided to reward shareholders​ with a 100 per cent increase in its dividend.

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 distribution centre for Next in Doncaster and a number of high rise commercial properties at Wellington Place in Leeds.

The group said revenue rose 26 per cent to £57m in the year to December 31 while pre-tax profits jumped 63 per cent to £3.1m,

CEO Mark Smith said the group has been able to sell other services alongside its big steel contracts.

“We are cross-selling across the group so we are offering easi-edge and stair solutions when we are selling the steel work,” he said.

He said the firm’s expansion plans have progressed significantly following last year’s £5m purchase of a new factory in Shafton, south Yorkshire.

Billington said the acquisition has significantly increased the output of its structural steelwork divisions and it is recruiting a skilled workforce.

“Although the industry continues to recover, the market remains competitive,” said Mr Smith.

“The dividend of 6p is a result of Billington’s ability to deliver quality results to both clients and shareholders.”