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Tue September 22 2020

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Billington mulls dividends

9 Sep 14 The recovery of structural steelwork contractor Billington Holdings continues with a 35% rise in revenues in the first half of 2014. It also more than doubled its pre-tax profits.

Chief executive Steve Fareham
Chief executive Steve Fareham

For the six months to 30 June 2014 Billington had revenues of £23.2m (2013 H1: £17.2m) and pre-tax profit of £790,000 (2013 H1: £300,000) excluding redundancy costs.

Chief executive Steve Fareham said that results for the full year were likely to be ahead of current forecasts. Without wanting to be held down to anything too firm, he also indicated shareholders may soon start to see dividends resuming. Or at least the board might think about it.  

Specifically, he said: “The board has decided that it is appropriate to give an indication at this stage that it intends to give serious consideration to the declaration of a dividend when the full year results are announced in March 2015.  The final decision will depend on the anticipated cash requirements of the business as activity levels increase and capital expenditure plans on replacement of plant and equipment are clarified.”

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MPU
MPU

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