Billington Regulatory News (BILN)

10 Jul 2008 07:00



Billington Holdings Plc

("Billington" or "the Group")

Trading Update

Billington Holdings Plc, one of the UK's leading structural steel and engineering specialists, today announces its first trading update on the Group following the change of operating name from Amco Corporation plc to Billington Holdings Plc on 24 June 2008. The Group will be announcing its interim results for the six months ending 30 June 2008 in September 2008.

Billington Holdings Plc is now focussed firmly on structural steelwork through the award winning Billington Structures Ltd. The Group's activities also include easi-edge, a safety solutions provider to the construction industry, and Dosco Overseas Engineering, providing mining machinery for a worldwide customer base. 

The Group has a current record order book in excess of £55 million, boosted by strong demand worldwide and in the UK mineral industries for machines and steelwork.  Overall trading remains in line with expectations. Despite the present challenging conditions which have had significant effects upon all businesses operating within the UK construction industry, certain sectors, such as education, continue to offer growth. 

Billington Structures Ltd has been nominated as the preferred steelwork contractor for a major sixth form college in the Home Counties. Other recent contract awards include:

Dosco Overseas Engineering Ltd has secured orders for new and refurbished machines in China, India, Mexico and the UK.

The safety solution business, easi-edge, continues to consolidate its market position.  In terms of its existing product range the easi-edge barrier utilisation continues to run at 92% of available stocks, with supplies to many major Structural Steelwork contractors, including Conder, Rowecord, Barrett, Fisher, Bourne Steel, Killelea and also direct to many main contractors.  The easi-edge barriers have traditionally been used on steel structures, but with a new design the company has recently won a contract for installation of its barriers onto a concrete frame construction, which will have the effect of expanding the market for its product.  In terms of new product development easi-edge has recently launched the Coresafe lift shaft gate barrier which it has developed, in conjunction with Shepherd Construction Ltd. Coresafe represents a new market opportunity and is generating considerable interest as it provides a new dimension in terms of site safety by providing a secure barrier at lift shaft openings whilst a building is in under construction.

Peter Hems, Executive Chairman of Billington Holdings Plc, said: "We are very pleased with the progress that structural steel and the other remaining businesses are making. Disposing of the non-core businesses earlier in the year was an important step and allows the group to focus on its core skills and markets.  

"Our strong order book and product development strategy gives us considerable confidence in the outlook for the full year."

-Ends-

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Notes to Editors

With history dating back to 1970, Billington Holdings was formed in June 2008 following the disposal of non-core assets and change of name from Amco Corporation Plc. The group comprises three divisions:

Structural Steel

Safety Solutions

Engineering

Billington Structures is headquartered in Wombwell, near Sheffield. For further information, visit http://www.billington-holdings.plc.uk