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20/09/2016

Billington Reports 'Strong' Order Book In Half-Year Results

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Steelwork specialist Billington has reported a "strong" order book for the first six months of the year ended 30 June 2016.

In its interim results, the company revealed revenue had risen 10.2% from £24.5 million last year to just over £27 million for 2016. In addition, profit before tax was up 2.4% from £1.7m to £1.74m.

With group operating margin rising to 6.5% from 5.4%, Chief Executive Officer Mark Smith said the company now has its longest forward book in its history.

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"Billington currently has the longest forward order book, in relation to capacity, in the Group’s history, and the strength of this provides the Company with confidence going into the second half of the year," he said.

"Good progress is being made at the Shafton facility, acquired in December 2015, which, in the long-term, will provide Billington with the opportunity to further expand its operations and drive greater efficiencies.

"With the headway made in the first half of the year, the next six months are set to be a busy period for the Company, and the Board and I are confident that Billington will deliver positive full year results."

(LM)

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