Better than expected profits forecast for steel group

Wombwell-based structural steel business, Billington Holdings, expects its pre-tax profits to be ahead of market expectations for the year ended 31 December 2022.

In an update ahead of the release of the company’s results for the year end, the business adds its trading has continued to be strong, with further good quality orders secured in the current year and a healthy pipeline of opportunities. 

As a result of strong cash management during 2022, combined with confidence in future earnings and related cash generation, the Board also expects to declare a final dividend for the year ended 31 December 2022 ahead of market expectations.  

Mark Smith, CEO, said: “The recovery in activity we experienced in 2022 has continued into 2023.

“The benefit of efficiency enhancements implemented throughout the group, combined with a strong orderbook and a healthy pipeline of further opportunities, provides increased confidence in delivering an improved group financial performance. 

“I look forward to commenting further on current trading at the time of the release of our 2022 results on 18 April 2023.”