Last checked at 14 Nov 2023 07:00
14 November 2023
Billington Holdings Plc
("Billington", the "Group" or the "Company")
Trading Update
Strong trading performance continues across the Group and results for the year ending 31 December 2023 are now expected to be ahead of previous market expectations
Billington Holdings Plc (AIM: BILN), one of the UK's leading structural steel and construction safety solutions specialists, is pleased to provide an update on current trading.
As outlined in the Company's interim results for the six months ended 30 June 2023, announced on 19 September 2023, the Group achieved record first half revenues and good profits, with a strong performance across all its business units.
The Company is pleased to report that trading has continued to be strong across the Group, with further good quality orders secured and increased volumes being delivered in the second half of the year. The Group continues to benefit from improved manufacturing efficiencies from the deployment of its capital investment programme across all the Group's production facilities. The successful and efficient delivery of high quality contracts, combined with the increased capacity and positive final determination of contract values has seen the momentum gained during the first half of 2023 continue. Consequently, the Group now expects revenue and profit before tax for the year ending 31 December 2023 to be ahead of previous market expectations.
Mark Smith, CEO of Billington, commented:
"The strong performance we achieved in the first half of 2023 has continued into the second half. The benefit of efficiency enhancements implemented throughout the Group, combined with a diverse range of successfully delivered contracts in 2023, means that I am pleased to report that I now expect the Group to achieve revenue and profits for 2023 ahead of previous market expectations. Going forward into 2024 we have a healthy pipeline of further opportunties, however, we do remain mindful of continuing inflationary pressures and an uncertain macroeconomic outlook, but with our strong balance sheet I do believe the Group is well positioned for the future."
For further information please contact:
Billington Holdings Plc Mark Smith, Chief Executive Officer Trevor Taylor, Chief Financial Officer
| Tel: 01226 340 666 |
Cavendish Capital Markets Ltd - Nomad and Broker Ed Frisby / Charlie Beeson - Corporate Finance Andrew Burdis - ECM
| Tel: 020 7220 0500 |
IFC Advisory Limited Tim Metcalfe Graham Herring Zach Cohen | Tel: 020 3934 6630 billington@investor-focus.co.uk
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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/
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.