Billington Holdings plc (AIM:BILN) – cracking results bring out another upgrade
The structural steel and construction safety specialists issued audited full year results for the year ended 31 December 2014 ahead of estimates with a strong order book supporting a very positive outlook statement from management.
Revenue was up 14.5% to £45.1m, profit before tax up over 100% to £1.9m and earnings per share up over 200% to 12.5p – terrific stuff! The final dividend was lifted to 3p the first time a final dividend has been proposed since 2010 – welcome back chaps! The Group activities encompass structural steelwork contractors (principal revenue), protection barriers, steel staircases and balustrade systems and hoardings. Operating profit of £1.9m culminated in a net operating cash inflow of £2.57m of which £1.3m was invested in new plant resulting in free cash of around £1.3m. At the year end net cash…