Steelwork specialist Billington delivers record first-half

Aaron Morby 3 days ago
Share

Constructional steelwork contractor Billington is forecasting full-year profits will exceed expectations after reporting record revenue and strong profits in the first six months of the year.

CEO Mark Smith said Billington is now debt free after strong first six  months of trading
CEO Mark Smith said Billington is now debt free after strong first six months of trading

Mark Smith, chief executive officer of Billington, said the growth spurt had been facilitated by an overseas recruitment programme to find skilled staff.

Around 37 overseas staff, equivalent to 10% of the total staff, have joined in the initial phase of the recruitment plan.

Smith said the new recruits have already provided a valuable contribution to the AIM-listed group’s capabilities, allowing capacity to be increased and demand to be serviced.

Group revenue jumped 30% in the first six months to £60m, with pre-tax profit more than trebling to £4.6m as Billington delivered a number of significant contracts at improved margin levels.

Smith said:  “The Group has been successful in securing several significant contracts and has a very healthy pipeline of current and potential business, with significant work in progress. 

“While we remain mindful of continuing inflationary pressures and an uncertain macroeconomic outlook, we anticipate a robust performance in the second half of the year.

“I believe that Billington is very well positioned to deal with market challenges and I now expect the group to deliver profits for the full year ahead of previous board expectations.”

Smith said the firm had seen particularly strong demand in the energy from waste, high-tech manufacturing, infrastructure and data centre areas. 

While large office developments remained limited and industrial warehousing development has slowed, Billington Structures continued to secure contracts in these areas, said Smith.

He added: “Whilst the macroeconomic background remains uncertain, we have a significant level of work in progress, are seeing a consistent stream of opportunities at attractive margins and have a very healthy order book.  Billington is a robust business, with a strong market position, and debt free.”

Latest news

First sign of price falls for construction products

Supply returns to pre-covid levels as demand drops
20 hours ago

Three giant lab buildings approved at £700m Oxford R&D district

Phase 2 Oxford North office and lab buildings to deliver 460,000 sq ft of space
2 days ago

PM fails to quash speculation about plan to axe HS2 phase 2

Sunak ducks future of HS2 question at big net zero Government briefing
21 hours ago

Green light for giant North Wales offshore wind farm

Awel y Môr wind farm is the biggest renewable investment in Wales for a decade
20 hours ago

T&T breaks £1bn revenue mark for first time

Global consultant enjoys strong growth across all seven geographical regions
21 hours ago

Subcontractors and suppliers wanted across Scotland

Constructionline Meet the Buyer event next week at Hampden Park: Register now
20 hours ago

Springfield switches strategy as private housing slumps

Scottish house builder turns back to affordable homes market
2 days ago

Sunak details zero carbon targets climbdown

Ban on gas boilers delayed five years; 50% rise in scrappage scheme
1 day ago

RG Group to build tallest student block in the world

Contractor confirmed on 45-storey tower in Leeds
2 days ago

Galliford Try forecasts profit to double next year

Contractor delivers strong results this year and raises expectation for 2024
2 days ago

Strabag hires 15 senior Buckingham Group staff

Austrian civils giant to set up UK building business with pool of staff
3 days ago

Contractors raise pay offer to avert engineering construction strike

Blue book agreement employers up final offer to 10%
2 days ago

Former Mid Group chief joins Tilbury Douglas

Steven Hearn gets new role as regional director of the South East division
2 days ago

Crumbly concrete found at extra 27 schools

A total of 174 schools now found to contain RAAC concrete
3 days ago

Henry Boot Construction struggling to find work

Contracting arm looking to fill order book
3 days ago

More schools found to have crumbly concrete

Surveyors find another 27 schools containing Raac
3 days ago

Buckingham Plant Hire still trading as normal

Separate plant business "not affected" by collapse of contractor
3 days ago

NG Bailey makes £25m loss after Britishvolt shock

Gigafactory loss and problem contracts blow hole in books
4 days ago

Steelwork specialist Billington delivers record first-half

Overseas recruitment push boosts headcount by 10% to drive growth
3 days ago

Vinci wins major St Helens town centre revamp

£90m first phase includes new market hall, 120-bed hotel and over 60 flats
3 days ago

Mace deputy chairman to step down from board

Mace veteran Mark Holmes will leave at the end of the year
3 days ago

CHIC extends bid deadline on £3.2bn new build framework

Closing date for 8-year framework set for 20 October
4 days ago

Work to start this year on Manchester £250m spa resort

Developer Therme gets green light for re-engineered 28-acre Trafford complex
4 days ago

Costain bags £80m water order for upgrades at 16 sites

Severn Trent contracts include work to improve wastewater quality and protect wildlife
4 days ago

Barhale JV sign-off for £18m Dewsbury sewage works upgrade

Project forms part of Yorkshire Water’s £500m investment in Phosphorous removal
4 days ago

Murphy seals main build on £124m Essex station

Contractor lands main contract after successful start on enabling works package
7 days ago

GMI lands latest £42m phase of lab cluster

Citylabs life sciences complex in Manchester continues to grow
4 days ago

Director ban for asbestos dumper

Twenty tonnes of construction waste illegally dumped on farmland
4 days ago

HS2 leg to Manchester could be axed

Rishi Sunak and Jeremy Hunt are reportedly in talks to axe Northern leg
7 days ago

FM Conway revenue tops £500m

Highways contractor reduces net debt by £10m amid strong operating cash flow
7 days ago

Contractor services