Brighter than expected prospects at steel group as trading picks up
Structural steel business, Billington Holdings, now expects its adjusted pre-tax profits for the year ending 31 December 2022 to be “significantly” ahead of its previous expectations, with revenue remaining unchanged.
Releasing an update today for the year ending 31 December 2022, the Wombwell-based company notes trading has continued to improve.
The business’s order book, combined with further opportunities, provides increased confidence for 2023. It means the company also expects adjusted pre-tax profits for the year ending 31 December 2023 to be well ahead of the Board’s earlier predictions.
Mark Smith, CEO, said: “The recovery in activity we experienced in the first half of 2022 has continued into the second half.
“We have been focused on implementing efficiency improvements throughout the Group that are now being realised.
“I am therefore pleased to report that whilst revenue will be in line, I expect the Group to achieve profits for the current year and for 2023 significantly ahead of the Board’s previous expectations.”
Billington Holdings says it should publish its results for the year ended 31 December 2022 in April 2023.