(Alliance News) - Shares in steel and engineering firm Billington Holdings PLC rose Thursday as the company guided to beat both revenue and profit expectations.
Billington shares were 7.0% higher on Thursday morning at a price of 342.45 pence each.
For 2019, Billington sees both profit and revenue above market forecasts of GBP5.2 million and GBP78 million respectively, though it did not give actual guidance figures. Pretax profit and revenue in 2018 were GBP4.9 million and GBP77.3 million respectively.
The Barnsley-based firm also said cash generation for the year would be "similarly positive".
This comes after the successful completion of a number of large projects throughout the year, the company said.
Chief Executive Mark Smith said: "We are pleased to be able to announce this increase in our expected outturn for the year. The current political and economic uncertainties will undoubtedly present challenges for the company in 2020.
"However, the positive momentum, the company's strong market position and robust and consistent financial performance of the company leaves it well placed to move forward into 2020 and beyond with confidence."
For the first half of 2019, Billington reported a 38% rise in pretax profit, after revenue growth of 20%. All business grew, it said, with strong performance coming from new contract awards.
By George Collard; georgecollard@alliancenews.com
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Billington (BILN)