 released strong results on Tuesday, culminating in a dividend increase of 10 pence per share.){kind=link}
Steel and construction specialist Billington (LON:BILN) released strong results on Tuesday, culminating in a dividend increase of 10 pence per share.
In the year to 31 December 2016 Billington saw pre-tax profits increase by 22.6 percent to £3.8 million pre-tax profit, with revenues climbing from £56.7 million to £63.3 million.
EBITDA rose by 21.4 percent to £5.1 million, with earnings per share up 20.4 percent to 25.4 pence.
In a statement, the company said that “current market conditions provide opportunities for growth”, with operating margins improving to 6 percent across the year after the company fabricated around 25,000 tonnes of material.
Mark Smith, Billington’s Chief Executive Officer, commented:
“Over the past year, the Company successfully maintained its order book, and has work continuing throughout 2017.
“With the acquisition of Shafton, in December 2015, the company began its expansion strategy and this year we are looking forward to progressing to the next stage. A number of tenants at the Shafton site will vacate shortly, allowing Billington to complete its facility adaptation programme, ready for operations to begin in earnest the second half of 2017.
“Given this strong set of results, Billington is pleased to deliver an increased annual dividend of 10 pence per share and we look forward to an equally busy year, maintaining the excellent work rate of 2016.”
Shares in Billington are currently up 2.26 percent at 240.30 (0835GMT).