Billington expect profits significantly ahead of the Board’s previous expectations

Billington Holdings

Billington Holdings Plc (LON:BILN), one of the UK’s leading structural steel and construction safety solutions specialists, has provided a trading update for the year ending 31 December 2022.

As highlighted in the Company’s interim results for the six months to 30 June 2022, announced on 27 September 2022, the Group had a strong order book at improving margin levels, and a significant pipeline of opportunities, providing an improved outlook for the second half of 2022 and into 2023. 

The Company is pleased to report that trading has continued to improve. Consequently, the Company now expects adjusted profit before tax for the year ending 31 December 2022 to be significantly ahead of the Board’s previous expectations, with revenue remaining unchanged.

The order book, combined with further opportunities also provides increased confidence for 2023 and the Company now expects adjusted profit before tax for the year ending 31 December 2023 to also be significantly ahead of the Board’s previous expectations.

The Company expects to announce the results for the year ended 31 December 2022 in April 2023.

Mark Smith, CEO of Billington Holdings, commented:

“The recovery in activity we experienced in the first half of 2022 has continued into the second half.  We have been focused on implementing efficiency improvements throughout the Group that are now being realised.  I am therefore pleased to report that whilst revenue will be in line, I expect the Group to achieve profits for the current year and for 2023 significantly ahead of the Board’s previous expectations.”

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