Steel specialist鈥檚 revenue also rises 35% to 拢23m in the first half of 2014
Steel specialist Billington Holdings has reported a sharp jump in pre-tax profit in the first half of 2014.
In its accounts for the six months to 30 June 2014 the firm reported a pre-tax profit of 拢759,000, up from 拢252,000 in the first half of 2013.
The company also reported a 35% rise in revenue to 拢23.2m up from 拢17.2m.
Steve Fareham, chief executive of Billington Holdings, said it was a 鈥渟trong鈥� set of results.
He added: 鈥淭he first half of 2014 has seen real signs of improvement in the structural sector and we anticipate that our specialist divisions will demonstrate corresponding improvements in the second half.
鈥淲e believe that the strength of the company鈥檚 balance sheet, our strategy and our proven track record make Billington well positioned to benefit from improving market conditions and the new opportunities therein.鈥�
He said he expected the firm鈥檚 results for 2014 to be ahead of expectations.
Analyst WH Ireland revised up its forecast for Billington Holdings鈥� full year results to 31 December 2014 to revenue of 拢44m up from 拢40m and pre-tax profit of 拢1.5m up from 拢1.2m.
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