Listed steel group continues momentum with record half-year results

Billington Holdings, the Barnsley-headquartered listed steel group, has maintained its momentum to report further  positive trading in the first six months of the current financial year.

The firm, which in April reported a record set of annual results, this morning said the six months ended 30 June 2019 had continued to operate positively.

The firm has seen record revenue, with an increase of 19.7% to £47.1m for the H1 period, up from £39.3m. Pre-tax profit increased 38% to £2.68m (H1 2018: £1.94m).

Billington said: “All group companies performed well over the period, with momentum from 2018 continuing into the current year.”

It said that it had successfully delivered a large European project with the prospect for future works.

Billington Structures was awarded two contracts with a combined value of £30m in June 2019 ensuring production volumes are likely to remain at similar levels

Mark Smith, Chief Executive of Billington, said: “I am very pleased with the Group performance in the first half of the year, continuing the strong momentum from 2018. We started the year with a record order book and consequently the first half has been a very busy period for the Group across all our businesses. We have continued to build our order book with further significant contracts secured.

“Whilst the overall market continues to be uncertain, the outlook for Billington remains positive, particularly given the Group’s ability to target a diverse range of projects insulating us, in part, from any temporary slowdowns in the market. I look forward to the remainder of the year and beyond with cautious optimism.”