Efficiency drive yields record dividends for Billington

Financial results for 2022 posted by Billington Holdings today show £5.8m pre-tax profit, up from £200,000 in 2021.

Turnover was up nearly 5% to £86.6m (2021: £82.7m).

The 2021 profit was suppressed by a single £1.1m impairment from a client that went out of business, but even allowing for this, the 2022 profit figure was up more than fourfold.

The increased dividend of 15.5 pence per share (2021: 3.0 pence per share) represents the largest ever dividend declared by the company.

Chief executive Mark Smith said: “2022 has been a challenging yet rewarding year for the group. The onset of the Ukraine conflict presented significant challenges in terms of material availability and raw material price escalation, and I am pleased at how these issues were successfully navigated by our team.

“Continued delivery across the group of our capital investment programme has shown significant efficiency gains. The resolution of some outstanding legacy contracts, combined with the delivery of high quality, large contracts in robust market sectors have all assisted in 2022 being a successful year for Billington.

“While being mindful of the uncertain economic outlook for the UK, we look forward to the remainder of 2023 with a strong orderbook and a pipeline of significant high quality prospects. We are confident in maintaining the momentum from 2022 and delivering another strong performance for our stakeholders, in line with current market expectations.”

Larger projects undertaken by Billington Structures during 2022 included:

• Shepperton Film Studios, London
• Sandwell Aquatics Centre, Birmingham
• Magna Park Industrial Units, Lutterworth
• Wakefield Trinity RUFC Stadium, Wakefield
• Segro Industrial Unit, Coventry.

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