Billington Holdings鈥� revenue in the six months to 30th June 2025 decreased to 拢41.78m (2024 H1: 拢57.90m) while pre-tax profit decreased to 拢1.67m (2024 H1: 拢4.64m).
The revenue decline was attributed to 鈥渢he increase in complex, labour intensive contracts with a lower proportion of steel content relative to productive labour requirements鈥�.
The profit decline was attributed to 鈥渢he timing of profit recognition on a number of large contracts as a result of client led delays鈥�.
Profits were also impacted by the pricing pressure in the market place.聽聽聽聽聽
Chief executive Mark Smith said: "Following a strong performance by Billington in 2024 it is unfortunate that the market for structural steelwork and the construction industry more widely has, as a result of economic uncertainty and lack of consumer confidence, become increasingly subdued during the first half of 2025.聽 However, despite the challenging market conditions Billington has increased productive output in the first half of the year and has a healthy contracted order book, in more buoyant sectors, for delivery during 2025 and into 2026.
"The timing of profit recognition on certain significant contracts, as a consequence of client led project delays, will result in the recognition of margin later than was previously anticipated. We are optimistic that the market will see some recovery in 2026 as stability and increased confidence returns to the sector.聽 Billington, with its strong balance sheet and significant cash resources is well positioned to take advantage of improved market conditions."
He said that there remained strong demand from the waste-to-energy and data centre sectors, with others, such as film studios and London offices, showing signs of recovery.聽
鈥淚n particular, Billington is well positioned in high potential growth sectors, including sustainable energy transition areas driven by government policy.聽 These are complex markets with less competition and Billington is well positioned to win further business in these areas,鈥� Smith said.
He said that the core Billington Structures division 鈥渉as a significant pipeline of opportunities, although there remains uncertainty over precise project timings, particularly due to lengthy planning processes and customer confidence鈥�.
He added: 鈥淎ggressive price competition continues within the structural steelwork market and the group is focused on ensuring that contracts are targeted, and accepted, that maximise margin opportunities.鈥�
Billington Holdings has also promoted chief financial officer Trevor Taylor to the new role of chief operating officer.聽 Dave Jones, currently finance director - group companies, is joining the board as chief financial officer.
As previously reported, Billington Structures has also recruited Ian Dawson, previously competitor Severfield鈥檚 design director, as technical director (a non-board role).
Got a story? Email news@theconstructionindex.co.uk
