Last checked at 14 Dec 2022 07:00
14 December 2022
Billington Holdings Plc
("Billington", the "Group" or the "Company")
Full Year Trading Update
Billington Holdings Plc (AIM: BILN), one of the UK's leading structural steel and construction safety solutions specialists, is pleased to provide a trading update for the year ending 31 December 2022.
As highlighted in the Company's interim results for the six months to 30 June 2022, announced on 27 September 2022, the Group had a strong order book at improving margin levels, and a significant pipeline of opportunities, providing an improved outlook for the second half of 2022 and into 2023.
The Company is pleased to report that trading has continued to improve. Consequently, the Company now expects adjusted profit before tax for the year ending 31 December 2022 to be significantly ahead of the Board's previous expectations, with revenue remaining unchanged.
The order book, combined with further opportunities also provides increased confidence for 2023 and the Company now expects adjusted profit before tax for the year ending 31 December 2023 to also be significantly ahead of the Board's previous expectations.
The Company expects to announce the results for the year ended 31 December 2022 in April 2023.
Mark Smith, CEO of Billington, commented:
"The recovery in activity we experienced in the first half of 2022 has continued into the second half. We have been focused on implementing efficiency improvements throughout the Group that are now being realised. I am therefore pleased to report that whilst revenue will be in line, I expect the Group to achieve profits for the current year and for 2023 significantly ahead of the Board's previous expectations."
For further information please contact:
Billington Holdings Plc
Mark Smith, Chief Executive Officer Trevor Taylor, Chief Financial Officer | Tel: 01226 340 666 |
finnCap Ltd - Nomad and Broker
Ed Frisby / Charlie Beeson - Corporate Finance Andrew Burdis / Barney Hayward - ECM | Tel: 020 7220 0500 |
IFC Advisory Limited
Tim Metcalfe Graham Herring Zach Cohen | Tel: 020 3934 6630 |
About Billington Holdings Plc
Billington Holdings Plc (AIM: BILN), one of the UK's leading structural steel and construction safety solutions specialists, is a UK based Group of companies focused on structural steel and engineering activities throughout the UK and European markets. Group companies pride themselves on the provision of high technical and professional standards of service to niche markets with emphasis on building strong, trusted and long-standing partnerships with all of our clients. https://billington-holdings.plc.uk/
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR").