Billington order book at record high with six new contracts
By Josh White
Date: Friday 22 Mar 2024
(Sharecast News) - Structural steel and construction safety specialist Billington announced the acquisition of six significant contracts on Friday, with a cumulative value of £90m.
The AIM-traded firm said it included its most substantial single contract to date, propelling it to its largest order book ever recorded, surpassing the previous milestone in the first quarter of 2023 by a significant margin.
It said the newly-secured contracts encompassed sectors including power generation, manufacturing, and retail logistics.
The projects were slated for national delivery over the next 24 months.
"The award of these significant contracts is great news for Billington; they are a testament to our group offering in a challenging trading environment and demonstrates that Billington is a steelwork contractor of choice," said chief executive officer Mark Smith.
"The group currently has a record orderbook and these contracts provide further confidence that Billington will continue to perform well in 2024 and into 2025, further underpinning current market expectations.
"I look forward to providing further updates at the time of the release of the group's results for the year ended 31 December 2023 in April."
At 1457 GMT, shares in Billington Holdings were up 12.5% at 450p.
Reporting by Josh White for Sharecast.com.
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