15 May 2017 07:00
15 May 2017
Bilby Plc
("Bilby" or the "Group")
Trading Update
Bilby Plc (AIM: BILB.L), the holding company for P&R Installation Company Limited, Purdy Contracts Limited, Spokemead Maintenance Limited and DCB (Kent) Limited, a group of companies that provide gas heating, electrical and building services, gives the following trading update. This follows the announcement on 12 April 2017.
The Group is pleased to announce that as a result of its leading reputation and continued focus on operational excellence, a number of existing clients broadened the scope of work to be undertaken by Bilby companies in advance of the Group's year end. Additionally, customers that had awarded work to Bilby which was set to start in the current financial year, requested the Group commence work earlier than previously anticipated. The Group's year end audit is underway and the combined result of these developments means that in the year to 31 March 2017, Bilby expects to achieve EBITDA of not less than £3.6million.
In addition, continued investment into operational systems and efficiencies during 2017 has enabled the Group to increase its positive cash reserves at the year end, which stood at £2.1 million (unaudited). Bilby continues to retain a £2.25m working capital facility.
The Group's audited financial results for the year ending 31 March 2017 will be announced before the end of June 2017.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
Enquiries:
Bilby Plc 020 8269 3777
Phil Copolo, Deputy Executive Chairman
Northland Capital Partners Limited 020 3861 6625
(Nominated Adviser and Broker)
Corporate Finance:
David Hignell
Matthew Johnson
Patrick Claridge
Sales and Broking:
Bob Pountney
John Howes
Hudson Sandler 020 7796 4133
(Financial PR)
Charlie Jack
Emily Dillon