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Thu April 15 2021

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Billington pays out at last

24 Mar 15 Shareholders of structural steelwork group Billington are to get their first dividend for the company for five years after the company grew its profits.

New chief executive Mark Smith
New chief executive Mark Smith

Billington Holdings made a pre-tax profit of £1.9m in 2014, which was more than double the £720,000 it made in 2013. Revenue was up 14.5% to £45.1m (2013: £39.4m).

The overall earnings per share for the year increased by 212% to 12.5p compared with 4.0p in 2013. Shareholders have seen no dividends from Billington since 2010 but the board is proposing that they get 3p per share this year.

As previously reported, Steve Fareham stepped down as group chief executive on 31st December 2014 having joined the business in 1968 straight from school. He remains a non-executive director. Mark Smith joined in June 2014 and took over as group chief executive on 1st January 2015.

Mr Smith said: “While the economy has not yet returned to pre-recession levels, the buoyancy and gathering momentum within the industry is very encouraging and allows us to look with optimism at our future prospects.”

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