News blog

Billington Holdings

• BY: Andrew Hore |
• POSTED: 30/01/2014 |

Shares in structural steel supplier Billington Holdings jumped by one-fifth on the back of a positive trading statement.

Billington will report better than expected 2014 profit after further recovery in the second half. House broker WH Ireland had already upgraded its profit forecast twice in the second half of 2013. At the time of the interims, when a £300,000 profit was reported, the forecast was a profit of £700,000 for 2013. Management may be able to consider the reintroduction of dividends.

Billington has focused on higher margin contracts and prices are stabilising. Cost cutting has assisted in the improvement in profit.

At 129.5p a share, Billington is valued at £16.8m.

Henderson increased its stake in Billington to 7.73% a fortnight before the trading statement.

The 2014 figures will be published at the end of March.

Download the latest AIM Journal from http://wwww.hubinvest.com/AIMPDFJanuary2014_52.pdf