Billington Holdings has sold its remaining non-core business to concentrate on its structural steel and safety barriers operations.
The underground mining machinery and support arches operations have been sold to Germany-based SMT Scharf for £1.8m. These businesses lost £800,000 on revenues of £12.8m in 2009. The loss on disposal is £1.5m.
Billington has won a £1.3m contract to provide steelwork for the Café Royal project.
House broker Brewin Dolphin forecasts a profit of £4.3m in 2009, falling to £2.5m in 2010. The 2009 figures will be published on 11 May.
At 150p a share, up 15p on the day, Billington is valued at £19.4m. The shares are trading on nearly 10 times prospective earnings for 2010.
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