27th Mar 2018 13:15
LONDON (Alliance News) - Billington Holdings PLC, which provides structural steel and construction safety solutions, on Tuesday raised its dividend payment on strong annual earnings growth, and said that it has made a good start to 2018 with a robust forward order book.
The company recorded pretax profit of GBP4.4 million for 2017, up 16% from GBP3.8 million in the year ago period. Revenue also grew 16% to GBP73.5 million from GBP63.3 million due to strong demand for the company's structural steel division.
"A strong performance from all group companies throughout the year has significantly contributed to this solid set of results, thanks to a number of divisions operating at near to full capacity. This, coupled with a good pipeline of projects, positions Billington encouragingly for the coming year," Chief Executive Mark Smith said.
"The UK structural steel demand is forecast to remain stable throughout 2018 and 2019 and the board will continue to closely monitor further developments in the industry in the year ahead, along with any potential impact these may have on the group," Smith added.
Billington declared a dividend of 11.5 pence per share for the year, up 15% from 10.0p paid a year ago.
Shares in the company were trading 3.9% higher at 265.00 pence in afternoon trade.
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