27th Sep 2022 13:22
(Alliance News) - Billington Holdings PLC on Tuesday said the first half of 2022 has been a period of "stabilisation and continued recovery".
Based in South Yorkshire, England, Billington is a structural steel and construction safety solutions specialist.
In the six months ended June 30, the company reported pretax profit of GBP1.3 million, up 71% from GBP760,000 a year prior.
Revenue increased by 22% from GBP37.7 million to GBP46.2 million, which Billington attributed to post-pandemic market recovery.
Shares were trading 13% higher at 212.80 pence on Tuesday afternoon in London.
Billington has secured a considerable number of contracts since half-year ended on June 30, including in the data centre, energy-from-waste, and industrial warehousing sectors.
Chief Executive Mark Smith said that although "macroeconomic headwinds" will impact material availability, price volatility and continuing inflationary pressures for the foreseeable future, Billington was "seeing a consistent stream of opportunities at improved margins".
He said he expects Billington "to deliver profits for the full year". In 2021, Billington recorded a pretax profit of GBP200,000 on revenue of GBP82.7 million.
The company expects inflation and restrictions in the supply of steel products to "continue for some time", but it said it is confident in its ability to manage these obstacles.
Billington declared no interim dividend, saying this was consistent with last year and previous years.
By Holly Beveridge; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Billington