Trading Update
Summary by AI BETAClose X
6 November 2026
Billington Holdings Plc
(“Billington”, the “Company” or the “Group”)
Trading Update
Billington Holdings Plc (AIM: BILN), one of the UK's leading structural steel and construction safety solutions specialists, provides an update on trading for the year ending 31 December 2026 (“FY26”).
Following a review of current projects and their expected financial contribution in FY26, the Board now expects that the Group’s underlying profit before tax* for FY26 will be in the range of £4.0 million to £5.5 million, which is below current market expectations** (2025: £4.1 million).
This expectation arises as a result of previously anticipated contract profits not being recognised in FY26 and the performance of an industrial project. A final determination as to whether certain contract profits can be recognised will be made following the year end and, accordingly, the final FY26 outturn may be at the higher end of the range referred to above.
The revision to the Board’s expectations principally reflects two contract specific matters outlined below, together with the latest assessment of expected contributions across the Group’s wider contract portfolio.
The Group has experienced a disappointing performance on a contract for an industrial sector project in the north of England. The project has proved more challenging to deliver than anticipated and, following a reassessment of the costs required to complete, the Group expects a material reduction in the margin contribution from the contract.
There have also been client-led delays to a significant bridge contract being undertaken by Tubecon. These delays mean that the contribution from this project is now expected to be recognised in 2027.
Notwithstanding some of these contract specific matters, performance across the wider Group remains positive. As reported in the Group’s interim results for the six months ended 30 June 2026, the Group is benefiting from its focus on higher value added projects, and from the operational efficiencies and increased capabilities developed across the business.
During 2026, the Group has announced new contract awards with expected combined values of approximately £120 million across a range of sectors, including data centres, energy, infrastructure, education and defence. These awards include significant projects with new and existing clients and have contributed to a record order book, providing good visibility through 2027 and, for certain projects, into 2028.
The wider structural steelwork and construction markets remain challenging and subject to continued pricing pressure. However, Billington remains well positioned in those sectors where demand is strong and continues to have a substantial pipeline of further opportunities. The Group also continues to focus on operational efficiency, project execution and cost control as it delivers its significant secured workload.
The Group continues to maintain a strong balance sheet, supporting the delivery of its record order book and continued investment to increase capacity and enhance operational efficiency.
Whilst the Board is disappointed by the reduction in expected profitability for the current financial year, it believes that the matters giving rise to the revision are contract specific. The Group’s record order book, strong market position and substantial pipeline of opportunities provide the Board with confidence in Billington’s longer-term prospects.
*Profit before tax before non-underlying staff costs, other operating charges and impairment losses.
**In so far as the Company is aware, as at 5 November 2026, consensus market expectations for the year ending 31 December 2026 were for adjusted or underlying profit before tax of £8.3m. The consensus is based on analyst forecasts which are not produced or endorsed by Billington.
For further information please contact:
|
Billington Holdings Plc Mark Smith, Chief Executive Officer Trevor Taylor, Chief Operating Officer Dave Jones, Chief Financial Officer |
Tel: 01226 340 666 |
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Cavendish Capital Markets Ltd – Nomad and Broker Ed Frisby / Trisyia Jamaludin – Corporate Finance Will Smith – Corporate Broking |
Tel: 020 7220 0500 |
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IFC Advisory Limited Tim Metcalfe Graham Herring Zach Cohen |
Tel: 020 3934 6632 |
About Billington Holdings plc
Billington Holdings plc (AIM: BILN), one of the UK's leading structural steel and construction safety solutions specialists, is a UK based Group of companies focused on structural steel and engineering activities throughout the UK and European markets. Group companies pride themselves on the provision of high technical and professional standards of service to niche markets with emphasis on building strong, trusted and long-standing partnerships with all of our clients. https://billington-holdings.plc.uk/
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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