UK's Billington Holdings H1 profit jumps 70% on data centre demand

By Reuters News


Overview

  • UK structural steel specialist's H1 revenue rose 29%, driven by higher steel content in projects

  • Profit before tax for H1 up 70%, reflecting focus on larger, complex projects and efficiencies

  • CEO Mark Smith to retire Jan 2027, COO Trevor Taylor named as successor


Outlook

  • Company expects full-year results to be in line with market expectations

  • Billington notes challenging market conditions and continued pricing pressure in structural steelwork

  • Company sees strong demand in energy, data centres and infrastructure sectors supporting its order book


Result Drivers

  • HIGHER STEEL CONTENT - Co said revenue growth was mainly due to a return to higher average steel content across structural steelwork projects

  • LARGER, COMPLEX PROJECTS - Co attributed profit growth to focus on larger, more complex projects and operational efficiencies

  • SECTOR DEMAND - Strong activity in energy, data centres and infrastructure sectors supported record order book


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

GBP 53.95 mln

H1 EBITDA

GBP 3.73 mln

H1 Pretax Profit

GBP 2.84 mln


Analyst Coverage

  • The one available analyst rating on the shares is "strong buy"

  • The average consensus recommendation for the construction & engineering peer group is "buy."

  • Wall Street's median 12-month price target for Billington Holdings PLC is GBp515.00, about 13.2% above its September 28 closing price of GBp455.00

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago


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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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