Billington hits record orders in first half

Billington Holdings, a UK based structural steel and construction safety solutions specialist, has achieved the largest number of orders since the firm’s origins.

Chief executive Mark Smith said: "Billington currently has the longest forward order book, in relation to capacity, in the Group's history, and the strength of this provides the company with confidence going into the second half of the year.”

Revenue rose 10.2% to £27.05m, earnings before interest tax depreciation and amortisation (EBITDA) rose 9.8% to £2.36m, profit before tax rose 2.4% to £1.74m. All divisions are contributing positively and are operating at r above budget.

The firm has reported a “strong, robust” cash balance despite its cash and cash equivalents falling 1.9% to £6.24m.

The company also reported good progress at its Shafton facility, which it acquired in December last year. Smith believes in the long-term the facility will provide the company with the opportunity to further expand its operations and drive greater efficiencies.

The firm’s order book secures its work through to next year but despite this it remains aware of the macro economic environment and the possible impact and short term volatility that may occur following Brexit. According to the board the firm's strong balance sheet will prevent the effect from affecting the firm's long term goals.

Earnings per share from continuing operations rose 2.6% to 11.70p. The share price fell 4.86% to 281.55p at 0917 BST on Tuesday.