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Billington lifted by big shed revival

22 Sep 15 Structural steelwork contractor Billington has beaten market expectations by more than doubling its pre-tax profits in the first half of 2015 and growing revenues by 15%, with more than doubling.

Billington has supplied 5,000 tonnes of structural steel for a Next warehouse in Doncaster
Billington has supplied 5,000 tonnes of structural steel for a Next warehouse in Doncaster

For the six months to 30th June 2015 Billington Holdings reported revenue of £24.55m (2014 H1: £21.31m). Profit before tax was £1.7m (2014 H1: £759,000).

Earnings before interest, taxation, depreciation and amortisation (Ebitda) was up 82% to £2.15m (2014 H1: £1.18m excluding last year’s redundancy costs).

Chief executive Mark Smith, who took over at the beginning of the year on the retirement of Steve Fareham, said that 2015 had seen the re-emergence of the distribution warehouse sector, much to Billington’s benefit. Current workload includes the supply of 5,000 tonnes of structural steel for a warehouse in Doncaster for retail group Next.

Billington is also providing Balfour Beatty with 3,000 tonnes of steelwork for a new 24,000m2 aircraft hangar at RAF Brize Norton.

The Leeds-based Peter Marshall Steel Stairs division had also seen a major upturn in business following a management re-structure.

Mr Smith said: "I am pleased to deliver a strong set of interim results, which have exceeded market expectations. We are experiencing growing demand in the sector and Billington remains well placed to capitalise on these increased opportunities.”

He added: “The group continues to take advantage of the gradual recovery of the construction industry as well as benefiting from the actions taken by management in 2012 to streamline the business and make it more flexible and able to capitalise on fluctuating workloads.”

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