Steel group further strengthens with record results
Billington Holdings, the Barnsley-based listed steel group, has reported record revenues for the group’s structural steel division.
The firm’s revenues for the full year to 31 December 31 stood at £73m, up 16% from £63m in the previous year. Pre-tax profit rose 15% to £4.4m.
During the year, the firm fabricated and processed in excess of 30,000 tonnes. It said that there had been a good start to 2018 with a robust forward order book moving into the year.
Mark Smith, chief executive, said: “A strong performance from all Group companies throughout the year has significantly contributed to this solid set of results, thanks to a number of divisions operating at near to full capacity. This, coupled with a good pipeline of projects, positions Billington encouragingly for the coming year.
“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.
“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.”