Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBILB.L Share News (BILB)

  • There is currently no data for BILB

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Bilby jumps following restructuring success, profit tumbles

Thu, 19th Dec 2019 13:17

(Sharecast News) - Shares of Bilby surged on Thursday as it claimed to have resolved issues relating to its P&R business but reported a dive in interim profits.
The building services firm booked a profit before tax of £0.5m for the six months ended 30 September, down 52% on the same period last year, as revenue dropped by 18% to £29.8m.

The AIM traded company did not propose an interim dividend, having paid out 2.00p per share at the same point 12 months prior.

However, Bilby said it had resolved its legacy issues and completed the restructuring of P&R, which had suffered from operational failings that resulted from governance failings at the subsidiary.

An operational and financial review of the business is ongoing and has resulted in the implementation of an investment programme that the company said will ensure robust systems and governance.

Chief executive David Bullen said: "This has been a period of restructuring for the group in which we finally resolved the legacy issues relating to P&R and continued the operational and financial review that collectively has achieved a positive reset for the group.

"We have taken the positive steps to improve our levels of transparency and efficiency, as well as engaging staff at all levels to shape the future of the organisation. This will ensure that each subsidiary benefits from being part of a wider group and will accelerate the trajectory of our future growth path. I am confident that the actions we have taken, and continue to undertake, will ensure that Bilby is best placed to capitalise on opportunities moving forward."

Bilby shares were up by 21.98% at 24.70p at 1259 GMT.
More News
16 Jun 2021 17:30

IN BRIEF: Bilby changes name to Kinovo in corporate rebranding

IN BRIEF: Bilby changes name to Kinovo in corporate rebranding

Read more
10 May 2021 15:01

EXECUTIVE CHANGES: Hansard Global hires new CEO; Argentex co-CEO back

EXECUTIVE CHANGES: Hansard Global hires new CEO; Argentex co-CEO back

Read more
6 May 2021 19:25

TRADING UPDATES: Superdry optimistic; Virgin Wines toasts demand surge

TRADING UPDATES: Superdry optimistic; Virgin Wines toasts demand surge

Read more
6 May 2021 09:32

Bilby puts on 'strong' H2 performance, margins impacted by higher costs

(Sharecast News) - Building services provider Bilby said on Thursday that it had put on "a strong performance" in the second half but cautioned that margins were affected by higher operational costs.

Read more
1 Dec 2020 11:56

UK EARNINGS SUMMARY: Topps Tiles In Solid Start To New Year After Loss

UK EARNINGS SUMMARY: Topps Tiles In Solid Start To New Year After Loss

Read more
13 Nov 2020 14:19

Bilby Hails "Robust" Performance Despite Drop In First-Half Earnings

Bilby Hails "Robust" Performance Despite Drop In First-Half Earnings

Read more
13 Nov 2020 11:01

First half revenue, earnings fall at Bilby

(Sharecast News) - Gas heating, electrical and building services provider Bilby updated the market on its trading on Friday, reporting that despite the challenges of Covid-19, it delivered a "robust" performance in the six months ended 30 September.

Read more
11 Sep 2020 14:37

IN BRIEF: Bilby Non-Executive Director Johnson Steps Down

IN BRIEF: Bilby Non-Executive Director Johnson Steps Down

Read more
7 Sep 2020 16:02

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

Read more
27 Jul 2020 10:50

Bilby Swings To Profit Under New Boss Thanks To P&R Restructure

Bilby Swings To Profit Under New Boss Thanks To P&R Restructure

Read more
26 May 2020 14:14

UK TRADING UPDATE SUMMARY: Yourgene To Enter Covid-19 Testing Space

UK TRADING UPDATE SUMMARY: Yourgene To Enter Covid-19 Testing Space

Read more
7 May 2020 16:13

UK DIRECTOR DEALINGS SUMMARY: ThinkSmart Non-Exec Buys 500,000 Shares

UK DIRECTOR DEALINGS SUMMARY: ThinkSmart Non-Exec Buys 500,000 Shares

Read more
24 Apr 2020 13:09

UK TRADING UPDATE SUMMARY: SpaceandPeople Hit By UK, Germany Lockdowns

UK TRADING UPDATE SUMMARY: SpaceandPeople Hit By UK, Germany Lockdowns

Read more
24 Apr 2020 10:34

Bilby pulls 2021 guidance, cuts executive pay

(Sharecast News) - Gas heating, electrical and building services provider Bilby pulled guidance for 2021 and cut senior management salaries as some customers deferred contracts amid the coronavirus pandemic.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.