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Steel contractor predicts sector growth

Posted on by in Weekly News

Billington150326One of the UK’s largest structural steelwork and safety solutions contractors, Billington Holdings, has posted pre-tax profits of £1.9M for the year to the end of December 2014, a rise of 111.1% on the previous 12 months.

Revenues rose by 14.5% to £45.1M and adjusted earnings before interest, tax, depreciation and amortisation rose by 50% to £2.7M.

Billington said market conditions are continuing to improve steadily and the results are significantly ahead of original market expectations. The company’s board believes that growth prospects look positive for the new financial year and beyond

Billington Chief Executive Mark Smith (pictured) said: “The company has achieved a strong set of results for the year, with each division contributing positively – Billington Structures has delivered a particularly encouraging performance, with its strongest order book in a long time. I am also very pleased that the Group is now in a position to resume paying a dividend to shareholders, for the first time since 2010.

“As market conditions continue to improve, Billington remains well-placed to benefit from the opportunities and growing demand in the sector.”

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