Time will tell I suppose but considering it was in long downtrend on back of series of poor results, I think it will be interesting to see how it reacts to improving results and work environment. Haven't looked at ev/ebit etc but pe is irrelevant since its on back of turnaround, no?
9 Feb '14
hmmm...but has not the sp not already priced most if not more than recovery in already? ...what is the ready reckoner current EV/EBIT? (p/e looks high. no?)
9 Feb '14
BILN - in turnaround mode Financials mirroring share price brilliantly: 2008 net profit = 3.2M 2009 net profit = 1.6M 2010 net profit = 0.8M 2011 net profit = -1.7M 2012 net profit = -0.4M mirrored by decline in share price from ~£2.00 to 40p, however.......... 2013 interims net profit = 0.18M and share price now recovering! brilliant turnaround/recovery play.
8 Feb '14
Now in turnaround mode. Let's see where this goes!
11 Sep '12
Shares in construction safety firm Billington Holdings fell on Tuesday as revenues dropped and the company again said it would pay no dividend. For the second year in a row the firm "reluctantly" decided there would be no interim dividend, pushing shares down 10% in morning trading. The company said the decision was taken in order to maintain cash reserves "in what continues to be an unstable market". Group revenue fell by 12% on the equivalent period in 2011 to £20.1m, primarily as a result of reverting back to a single shift arrangement in its main business, Billington Structures. However, the company cut its losses back to £200,000 from the £555,000 it made in the first half of last year. This resulted in a reduced loss per share of 1.3p, an improvement on the 3.5p loss it made in the first half of 2011. Chief Executive Steve Fareham said the firm was looking to the future with cautious optimism and expected a medium-term recovery. "Although the markets in which we operate remain challenging, the board feels that the actions taken this year and last, in response to the strategic review that the group carried out, have resulted in a more efficient business that is well placed to build on the strong position we hold in the structural steel market," he said. "Our focus now turns to restoring the group to post-tax profitability by gaining market share and seeking additional, alternative markets that offer our group growth potential," he added.
13 Sep '11
Billington cancels interim dividend Date: Tuesday 13 Sep 2011 LONDON (ShareCast) - Shares in Billington Holdings, the structural steel and engineering firm, fell 8% this morning after it posted losses and cancelled its interim dividend. Revenue was £22.8m, up from £21.3m, in the six months to the end of June. But the company posted a pre-tax loss of £600,000, down from a £1.1m profit in the same period last year. Billington said it would not pay an interim dividend "because of the current sustained difficult economic environment and a desire to maintain cash resources within the group". "Protracted and difficult economic conditions in the UK remain, and, the directors believe that when combined with a capacity imbalance of steelwork contractors, this has resulted in margins remaining poor," the firm said. "We are under no illusions, even though we expect margin pressures to ease in 2012; we realise that the construction market recovery will be a slow one," it added. However, Billington said the launch of its joint venture with Bourne Steel, BS2, would enable it to bid for larger projects. "The introduction of a third player into the large project environment seems to have been well received in the market and it is hoped it will yield opportunities in the very near future," the firm said.
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