Business
Interim Results for the six months to 30 June 2024
Interim Results for the six months to 30 June 2024.
About this update from Billington Holdings Plc
[{"type":"text","content":"\n\n17 September 2024\nBillington Holdings Plc\n \n(\"Billington\", the \"Group\" or the \"Company\")\n \nInterim Results for the six months to 30 June 2024\n \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 2024.\n\n\n\n\n\n\n\n\nUnaudited six months to 30 June 2024\n\n\nUnaudited six months to 30 June 2023\n\n\nPercentage Movement\n\n\n\n\nRevenue\n\n\n£57.90m\n\n\n£60.15m\n\n\n-3.7%\n\n\n\n\nEBITDA*\n\n\n£5.32m\n\n\n£5.67m\n\n\n-6.2%\n\n\n\n\nProfit before tax\n\n\n£4.64m\n\n\n£4.60m\n\n\n+0.9%\n\n\n\n\nCash and cash equivalents\n\n\n£21.87m\n\n\n£10.82m\n\n\n+102.1%\n\n\n\n\nBasic Earnings per share (EPS)\n\n\n27.6p\n\n\n28.8p\n\n\n-4.2%\n\n\n\n\n \n* Earnings before interest, tax, depreciation and amortisation\n \nHighlights\n \n\n\n\n\n•\n\n\nRevenue of £57.90 million (H1 2023: £60.15 million)\n\n\n\n\n•\n\n\nProfit before tax increased by 0.9 per cent to £4.64 million (H1 2023: £4.60 million)\n\n\n\n\n•\n\n\nStrong cash and cash equivalents balance of £21.87 million as at 30 June 2024 (31 December 2023: £22.08 million and 30 June 2023: £10.82 million)\n\n\n\n\n•\n\n\nIncreased macroeconomic confidence, combined with price stability of construction materials, resulting in deferred projects restarting\n\n\n\n\n•\n\n\nRecord order book at 30 June 2024 spanning multiple market sectors and a positive pipeline of opportunities provides confidence for FY24 and 2025\n\n\n\n\n•\n\n\nIt is anticipated that due to the timing of deliveries on certain significant contracts the Group's revenue will be stronger in the second half of the year\n\n\n\n\n•\n\n\nFY24 profits are now expected to be ahead of current market expectations\n\n\n\n\n \nMark Smith, Chief Executive Officer of Billington, commented: \n \n\"The first half of 2024 saw Billington continue to deliver a resilient performance across all its business units. The Group has been successful in securing a number of significant contracts, with further opportunities expected to be realised in the short term, providing confidence for the delivery of a strong performance in H2 2024 and in 2025.\n \n\"I believe the economic environment has begun to stabilise followi...