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Billington Holdings PLC shares jumped on Wednesday, after it said it expects 2022 and 2023 profit to be ‘significantly’ ahead of the board’s previous expectations.
Shares in the Barnsley, England-based construction company were up 27% to 299.00 pence each in London on Wednesday morning.
Billington said that it has a strong order book at improving profit margins and a significant pipeline of opportunities, providing an improved outlook for the second half of 2022 and into 2023.
It noted that it now expects adjusted pretax profit for 2022 to be significantly ahead of the board’s expectations, with revenue remaining unchanged.
In 2021, Billington reported pretax profit of £1.3 million and revenue of £82.7 million.
Looking ahead into 2023, the company said its order book has increased confidence for next year. It now expects adjusted pretax profit for 2023 also to be significantly ahead of expectations.
Billington expects to announce 2022 results in April 2023.
Chief Executive Mark Smith said: ‘The recovery in activity we experienced in the first half of 2022 has continued into the second half. We have been focused on implementing efficiency improvements throughout the group that are now being realised.’
By Sophie Rose, Alliance News reporter
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