Income in first half hits £60m mark
Listed steelwork contractor Billington turned in a record first half, the firm said in interim results today.
Turnover was up one third to £60m with pre-tax profit jumping from £1.3m to £4.6m in the six months to June.
The AIM-listed firm added that cash and cash equivalents more than doubled to £10.8m.
Chief executive Mark Smith said revenue was being driven by surging demand in energy from wate schemes as well as hi-tech infrastructure and data centres.
But the firm said office work and industrial warehousing had slipped from previous historic highs.
Billington said it had been hit by deferred or cancelled jobs but said it was focussing on work for larger contractors in order to deliver an “appropriate” margin.
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