Billington reported a boost to its revenue for the six months to 30 June 2019, thanks to a number of contract wins.
The structural steel specialist’s turnover increased by 19.7 per cent, up to £47.2m in the first half of this year, compared to £39.4m in the first half of 2018.
Profit before tax also increased in the same time period, from £1.9m to £2.7m.
Billington CEO Mark Smith (pictured) told Construction News that purchases made in previous years are still paying off.
He said: “If you go back to 2015, we made a significant purchase of a new site, and during subsequent years we have invested in machinery and have seen an organic growth.
“This has enabled us to supply the larger end of the markets, in large distribution warehouses, commercial buildings and the data centre market.”
Mr Smith credited the “successful delivery of a data centre project in central Europe” as one of the key factors for the company’s growth in the first half of this year.
Billington took on its largest contract to date in April for a data centre in Belgium, which CN understands is part of the Google campus near St Ghislain, and being delivered by main contractor ISG.
Mr Smith said the delivery of Pinewood Studios for Sir Robert McAlpine was also one of the factors behind the company’s strong start to 2019.
He added that demand in cities like Leeds, Manchester and Liverpool shows that the commercial market remains “buoyant”.
“We’re encouraged by the data centre market and distribution centre market, which is fuelled by the growth of the internet and online retailing,” he said.
According to the group’s results statement, two contracts with a combined value of £30m in June this year, “will ensure that production volumes are likely to remain at similar levels”.
Billington finance director Trevor Taylor added: “We have confidence over the position with the business and fully expect to meet our market expectations for the second half of 2019.”
The Yorkshire-headquartered firm’s cash and cash equivalents also rose significantly this year, increasing by 32.4 per cent from £7.6m last year to £10m this year.
In its full-year results posted in April, Billington announced that its turnover increased 5 per cent in 2018 to £77.3m, up from £73.5m the year before.
The post Billington turnover up 20 per cent amid ‘buoyant’ commercial market appeared first on Construction News.