Profits near £5m in ‘record performance’ for listed steel group
Billington Holdings, the Barnsley-headquartered listed steel group, has reported pre-tax profits of £4.9m in a year it delivered ‘record performance’
Reporting on the year-ended December 31 2018, Billington said pre-tax profits rose 11.4% – from £4.4m t0 £4.9m. Its revenue increased 5.2% to a record £77.3m for the Billington Group (2017: £73.5m)
The firm said its dividend increased 13% to 13p a share. Its cash balance now stands at £9.3m (2017: £8.1 million), which Billington said provided a solid platform for further growth
Mark Smith, Chief Executive Officer, said: “We are delighted at the progress which has been made across all our Group companies during 2018 and this has helped Billington deliver a record performance.
“The level of secured work Billington takes forward into 2019 is unprecedented and ensures that we can look to the future with optimism. Undoubtedly 2019 will present its challenges, however, we are confident it will be another successful and progressive year for the Group.”
“Billington continues to monitor both the challenges and opportunities which may result from the UK’s exit from the European Union. To date we have seen no discernible impact on trading or enquiry levels.”
“2018 has been a successful year for Billington further cementing its position as one of the leading structural steelwork companies in the UK. Consistent, managed growth over recent years provides the Group with a solid platform to further enable it to progress and develop. The Group’s strong financial position will ensure that as opportunities for development arise, we are able to capitalise and ensure further success.”
