Cheer for investors as Billington to pay first dividend for five years as profits leap
The Barnsley-based firm said all divisions are back in profit for the first time since the downturn and the group has started 2015 with a strong order book.
Pre-tax profits rose 111 per cent to £1.9m and revenue rose 15 per cent to £45.1m, enabling the group to resume paying dividends for the first time since 2010.
Advertisement
Hide AdAdvertisement
Hide AdA final dividend of 0.3p a share will be paid out, beating forecasts of a 0.1p increase.
New CEO Mark Smith said: “There’s a new drive and everyone is encouraged by the results. Shareholders have stuck with us and we’re now in a position where we are able to reward their loyalty.”
The market welcomed the news and the shares closed up 13p at 218.5p.
Billington’s finance director Trevor Taylor said: “We are seeing a good level of enquiries and that gives us confidence to be a bit more bullish and reward shareholders. Confidence in the market is good and we have the biggest order book for quite a while.”
The company, which supplied the steel for the RSC’s award-winning Stratford-upon-Avon theatre, is working on a major distribution centre in Doncaster for fashion retailer Next.