Last checked at 15 Jul 2009 07:00
| Press Release | 15 July 2009 |
Billington Holdings Plc
("Billington" or "the Group")
Trading update and analyst site visit
Billington Holdings Plc, one of the UK's leading structural steel and engineering specialists, is pleased to issue the following trading update for the period up to 13 July 2009.
The Directors are pleased with the Group's trading performance, which remains in line with expectations, in the first six months of the current financial year against a background of challenging market conditions.
The order book stands at £36 million, which remains robust in the context of much lower levels of demand in the UK construction sector. The forward booked production capacity for Billington Structures is at its highest level for over two years, albeit at lower contribution levels. The structural steel order book has been boosted by recent contract awards for school projects in Barnsley and Birmingham and, in order to satisfy this demand, short-term increases in manning levels may be required.
The UK outlook for structural steelwork for the remainder of 2009 and into 2010 will be challenging, as margins continue to be under pressure as competitors attempt to maintain their production levels.
Billington, as always, is focused on customer service in several key areas, notably safety and public sector work. The Group has a strong balance sheet and financial base, and continues to generate strong cash flow. It is particularly well positioned financially and strategically for the future.
A more detailed view on the outlook will be given when the half year results are announced in September 2009.
The Group also announces that today it is hosting a site visit for analysts at its Wombwell factory in South Yorkshire. No new information will be made available during this visit.
-Ends-
For further information please contact:
| Billington Holdings Plc | |
| Peter Hems, Executive Chairman Steve Fareham, Chief Executive info@billington-holdings.plc.uk | Tel: + 44 (0) 116 2575170 +44 (0) 1226 340666 www.billington-holdings.plc.uk |
| Brewin Dolphin Investment Banking | |
| Andrew Emmott | Tel: +44 (0) 845 270 8610 |
Media enquiries:
| Abchurch | |
| Sarah Hollins / Chris Lane / Jack Ballantyne jack.ballantyne@abchurch-group.com | Tel: +44 (0) 20 7398 7714 www.abchurch-group.com |
Notes to Editors
With history dating back to 1970, Billington Holdings Plc 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
| Billington Structures | One of the leading structural steel contractor businesses in the UK focusing on the design, manufacture and erection of structural steelwork for industrial, public sector and commercial buildings. This division is listed as a 'preferred supplier' to a number of main contractors, including Balfour Beatty and Bovis, and regularly works on a 'back-to-back' basis in competitive tendering. |
| Hollybank | Design and manufacture of steel arch roof supports for the underground mining industry. |
Safety Solutions
| easi-edge | A specialist in the development, production and rental or sale of edge protection systems and of other safety related products for the construction industry. |
Engineering
| Dosco Overseas Engineering | Design and manufacture of roadheading and tunnelling machines for the mining and civil engineering industries worldwide. |
Billington Holdings Plc is headquartered in Wombwell, South Yorkshire. For further information, visit http://www.billington-holdings.plc.uk.