UK structural steel and construction safety solutions specialists Billington Holdings PLC (LON: BILN) saw its shares rally on Monday morning, on the back of impressive progress illustrated in its first half fundamentals.
The Company accrued revenues of £47.15 million, up 19.7% year-on-year for the period. This led its 39.8% EBITDA spike, up to £3.55 million, and a 38.1% jump in profit before tax, to £2.68 million. Additionally, the Group’s cash and cash equivalents rose 32.4% to £10.01 million.
Billington Holdings shareholders saw similar progress, with EPS hiking 39.1% to 17.80p.
The Company went on to add that it continued investment in its safety solutions businesses, delivered a ‘large’ European project and won two contracts worth a combined £30 million, in June 2019.
Billington Holdings comments
Company Chief Executive, Mark Smith, commented on the results,
“I am very pleased with the Group performance in the first half of the year, continuing the strong momentum from 2018. We started the year with a record order book and consequently the first half has been a very busy period for the Group across all our businesses. We have continued to build our order book with further significant contracts secured.”
“Whilst the overall market continues to be uncertain, the outlook for Billington remains positive, particularly given the Group’s ability to target a diverse range of projects insulating us, in part, from any temporary slowdowns in the market. I look forward to the remainder of the year and beyond with cautious optimism.”
Investor notes
The Company’s shares have rallied 5.35% or 17.00p, to 335.00p per share 23/09/19 09:21 BST. The Group’s p/e ratio is 9.46, their dividend yield stands at 3.82%.
Elsewhere in construction and development news, there have been updates from; Epwin Group PLC (LON: EPWIN), Ashtead Group plc (LON: AHT), SIG plc (LON: SHI), Alumasc Group plc (LON: ALU), Somero Enterprises Inc (LON: SOM), Barratt Developments Plc (LON: BDEV) and Wincanton plc (LON: WIN).
