Shares in Billington Holdings surged by 12% following the company’s announcement that it anticipates exceeding the board’s previous full-year expectations. In addition, their pretax profit more than tripled in the first half.
At 0755 GMT, shares in Billington Holdings rose by 40.00 pence, reaching a value of 385.00 pence.
Strong Financial Performance
Billington Holdings, a leading specialist in structural steel and engineering, reported a significant increase in pretax profit. Their profit soared to £4.6 million ($5.7 million) compared to £1.3 million in the same period last year.
Furthermore, the company’s adjusted pretax profit rose to £4.96 million from £1.47 million.
Record First-Half Revenue
The remarkable surge in profits can be attributed to a remarkable 30% increase in revenue, reaching an impressive £60.15 million. This is a record achievement for Billington Holdings in the first half of the year, boosted by successful execution of several contracts.
Positive Future Outlook
Looking ahead, Billington Holdings is optimistic about its future financial performance and expects to surpass the board’s previous expectations for full-year profits. Although specific figures were not provided, the company reassured investors that it will outperform market views. In June, Billington Holdings had announced its expectations to meet market views.