Billington delivers record revenue and profit

Aaron Morby 5 years ago
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Steelwork contractor Billington is predicting another strong performance this year after a record 2018.

Mark Smith, chief executive officer, is optimistic about opportunities for growth in Europe
Mark Smith, chief executive officer, is optimistic about opportunities for growth in Europe

Revenue ticked up 5% to £77m generating an 11% rise in pre-tax profit to nearly £5m – both record figures for the Yorkshire firm.

The results were delivered against a backdrop of overall constructional steelwork market growth of 1% to 895,000t in 2018.

During the year the main structural steel businesses, Billington Structures and Shafton Steel Services operated at near optimum output, increasing its workforce by 5% to 379 staff.

Strong performances at the Leeds-based Peter Marshall Steel Stairs, and its easi-edge fall protection businesses helped to lift group margin from 6 to 6.5%.

Mark Smith, chief executive officer, said: “The level of secured work Billington takes forward into 2019 is unprecedented and ensures that we can look to the future with optimism.”

He added: “2018 saw the company secure its largest project to date, in Europe.

“We are confident of delivering the project successfully and we remain optimistic that further opportunities within Europe can be secured as we maintain a focus in this area.”

A favourable exchange rate with the Euro helped Billington to secure the 8,000t Belgian data centre project, which is being delivered by ISG and is due to complete at the end of the year.

Smith said: “Undoubtedly 2019 will present its challenges, however, we are confident it will be another successful and progressive year for the group.

“Billington continues to monitor both the challenges and opportunities which may result from the UK’s exit from the European Union.”

“To date we have seen no discernible impact on trading or enquiry levels.”

According to the British Constructional Steelwork the sector is expected to growth to 920,000 tonnes by 2021 with particular opportunities in the power and infrastructure sectors – both areas in which Billington is active, added Smith.

 

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