Yorkshire steel firm wins multi-million pound contracts

One of the contracts has been secured with a global, multi-national corporation for a value of £12m.

The three contracts are within the power, manufacturing and commercial office sectors and are currently scheduled to be delivered in the fourth quarter of 2020 and throughout 2021.

Mark Smith, chief executive of Barnsley-based Billington, said: "The award of these three contracts is great news for Billington and is a testament to our team in a continued difficult trading environment.

"We look forward to working closely with the clients to successfully deliver these projects."

Analyst John Cummins at WH Ireland said the new contracts were welcome news.

"Billington’s position in the UK market top 3 means it can secure larger contracts where competitive pressures are less pronounced," said Mr Cummins.

"Whilst 2020, and potentially 2021, are likely to be less profitable affairs than of late, the strength of Billington’s balance sheet means that Billington has the resilience to ride out even the most pessimistic of scenarios without recourse to shareholders, in our view.

"Beyond 2020, the distress in fabrication markets is likely to result in competitors falling by the wayside which will help bring stability to markets.

"In addition, we believe Billington is positioned well to capitalise on what is expected to be strong activity in key markets, including infrastructure (HS2), data centres and large scale online fulfilment warehousing."