Billington Reports Rise In Profits And Revenue In Full Year Results

Billington Holdings has reported a rise in both revenue and profits in its full year results for the year ended 31 December 2017.

The structural steel manufacturer revealed revenue has increased by over 16% to £73.5 million (2016: £63.6m) while profit before tax has risen by nearly 16% to £4.4m (2016: £3.8m).

With record revenue recorded in the Group's structural steel division on a like for like basis, materials fabricated and processed by both of the Group's divisions, Billington Structure and Shafton Steel Services, increased in 2017 to in excess of 30,000 tonnes.

During the period, Billington Structures was awarded its largest contract to date, a large distribution centre in the South West of England, which was successfully delivered ahead of schedule. Other significant projects undertaken by Billington Structures include;


• IKEA, Sheffield

• London School of Economics (LSE), London

• Coventry Leisure Centre, Coventry

• 50-60 Station Road, Cambridge

• Lime Street Student Accommodation, Liverpool

Mark Smith, Chief Executive Officer, said a strong performance from all companies in the Group "significantly contributed" towards the results, with a number of divisions operating at near to full capacity.

"We are continuing to see the success of the expansion strategy at the Shafton facility, now two years in to the five year adaptation programme initiated in 2015. This has allowed the Group to increase its capacity and expand its processing and fabrication production to over 30,000 tonnes of steel this year," he said.

"The UK construction industry has experienced a number of developments since the beginning of the year. The UK structural steel demand is forecast to remain stable throughout 2018 and 2019 and the Board will continue to closely monitor further developments in the industry in the year ahead, along with any potential impact these may have on the Group.

"The expansion strategy at the Shafton facility is continuing and Billington is well positioned to adapt to changes in the wider industry, which combined with our dedication to client relationships, should help us in achieving another solid performance in the current financial year."

(LM/MH)