Business
Interim Results for the six months to 30 June 2023
Interim Results for the six months to 30 June 2023.
About this update from Billington Holdings Plc
[{"type":"text","content":"\n\n19 September 2023\nBillington Holdings Plc\n \n(\"Billington\", the \"Group\" or the \"Company\")\n \nInterim Results for the six months to 30 June 2023\n \nA record first half performance by the Group\n \nBillington Holdings Plc (AIM: BILN), one of the UK's leading structural steel and construction safety solutions specialists, is pleased to announce its unaudited interim results for the six months ended 30 June 2023.\n \n\n\n\n\n\n\nUnaudited six months to 30 June 2023\n\n\nUnaudited six months to 30 June 2022\n\n\nPercentage Movement\n\n\n\n\nRevenue\n\n\n£60.15m\n\n\n£46.19m\n\n\n30.2%\n\n\n\n\nEBITDA*\n\n\n£5.67m\n\n\n£2.35m\n\n\n141.3%\n\n\n\n\nAdjusted profit before tax**\n\n\n£4.96m\n\n\n£1.47m\n\n\n237.4%\n\n\n\n\nProfit before tax\n\n\n£4.60m\n\n\n£1.30m\n\n\n253.8%\n\n\n\n\nCash and cash equivalents\n\n\n£10.82m\n\n\n£5.31m\n\n\n103.8%\n\n\n\n\nReturn on Capital Employed (ROCE)***\n\n\n38.3%\n\n\n13.2%\n\n\n190.2%\n\n\n\n\nBasic Earnings per share (EPS)\n\n\n28.8p\n\n\n8.7p\n\n\n231.0%\n\n\n\n \n* Earnings before interest, tax, depreciation and amortisation\n** before share based payments of £0.36 million (H1 2022: £0.17 million)\n*** annualised operating profit divided by average net assets, adjusted for cash and defined benefit pension scheme\n \nHighlights\n \n\n\n\n•\n\n\nRevenue increased by 30.2 per cent to £60.15 million (H1 2022: £46.19 million), representing record first half revenues for the Group\n\n\n\n\n•\n\n\nAdjusted profit before tax** increased by 237.4 per cent to £4.96 million (H1 2022: £1.47 million), an excellent performance achieved by the Group\n\n\n\n\n•\n\n\nContinuing strong cash and cash equivalents balance of £10.82 million as at 30 June 2023 (31 December 2022: £11.63 million and 30 June 2022: £5.31 million). Disciplined cash management with inventories and contract work in progress increasing to £20.44 million (30 June 2022: £16.28 million) and trade and other receivables increasing to £17.56 million (30 June 2022: £13.17 million), primarily as a result of the increased volume of work being undertaken by the Group\n\n\n\n\n•\n\n\nThe Group delivered a very strong performance in the period across all its business units and is currently trading ahead of the Board's previous expectations for the full financial year. Significant work in progres...