LONDON (ShareCast) - (Sharecast News) - Structural steel and construction safety specialist Billington said in an update on Tuesday that, after a "year of partial recovery" in 2021, the new year had started positively for the company.

The AIM-traded firm, which was holding its annual general meeting, said a number of "large" industrial contracts had been secured so far in 2022, adding that it had a "significant pipeline" of opportunities.

Non-executive chairman Ian Lawson told shareholders that, despite macroeconomic headwinds, particularly in material availability, price volatility and inflationary pressures, the company was trading in line with market expectations.

"We have a robust business and are well placed to deliver improved results in 2022," Lawson said.

"I remain confident in the group's prospects for the medium and long term."

At 0944 BST, shares in Billington Holdings were up 3.45% at 240p.

Reporting by Josh White at Sharecast.com.

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