REG - Billington Holdings - Trading Update

Billington HoldingsAnnouncement

14/11/2023 07:00

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RNS Number : 2989T  Billington Holdings PLC  14 November 2023

14 November 2023

Billington Holdings Plc

 

("Billington", the "Group" or the "Company")

 

Trading Update

 

Strong trading performance continues across the Group and results for the year
ending 31 December 2023 are now expected to be ahead of previous market
expectations

 

Billington Holdings Plc (AIM: BILN), one of the UK's leading structural steel
and construction safety solutions specialists, is pleased to provide an update
on current trading.

 

As outlined in the Company's interim results for the six months ended 30 June
2023, announced on 19 September 2023, the Group achieved record first half
revenues and good profits, with a strong performance across all its business
units.

 

The Company is pleased to report that trading has continued to be strong
across the Group, with further good quality orders secured and increased
volumes being delivered in the second half of the year.  The Group continues
to benefit from improved manufacturing efficiencies from the deployment of its
capital investment programme across all the Group's production facilities.
 The successful and efficient delivery of high quality contracts, combined
with the increased capacity and positive final determination of contract
values has seen the momentum gained during the first half of 2023 continue.
 Consequently, the Group now expects revenue and profit before tax for the
year ending 31 December 2023 to be ahead of previous market expectations.

 

Mark Smith, CEO of Billington, commented:

 

"The strong performance we achieved in the first half of 2023 has continued
into the second half.  The benefit of efficiency enhancements implemented
throughout the Group, combined with a diverse range of successfully delivered
contracts in 2023, means that I am pleased to report that I now expect the
Group to achieve revenue and profits for 2023 ahead of previous market
expectations.  Going forward into 2024 we have a healthy pipeline of further
opportunties, however, we do remain mindful of continuing inflationary
pressures and an uncertain macroeconomic outlook, but with our strong balance
sheet I do believe the Group is well positioned for the future."

 

For further information please contact:

 

 Billington Holdings Plc                           Tel: 01226 340 666

 Mark Smith, Chief Executive Officer

 Trevor Taylor, Chief Financial Officer

 Cavendish Capital Markets Ltd - Nomad and Broker  Tel: 020 7220 0500

 Ed Frisby / Charlie Beeson - Corporate Finance

 Andrew Burdis - ECM

 IFC Advisory Limited                              Tel: 020 3934 6630

 Tim Metcalfe                                      billington@investor-focus.co.uk

 Graham Herring

 Zach Cohen

 

About Billington Holdings Plc

 

Billington Holdings Plc (AIM: BILN), one of the UK's leading structural steel
and construction safety solutions specialists, is a UK based Group of
companies focused on structural steel and engineering activities throughout
the UK and European markets. Group companies pride themselves on the provision
of high technical and professional standards of service to niche markets with
emphasis on building strong, trusted and long-standing partnerships with all
of our clients. https://billington-holdings.plc.uk/
(https://billington-holdings.plc.uk/)

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

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