Billington reports lower revenue, profits
By Josh White
Date: Tuesday 21 Apr 2026
(Sharecast News) - Billington Holdings reported lower revenue and profits for 2025 on Tuesday, as challenging market conditions, pricing pressure and contract delays weighed on performance, although the group said it maintained strong operational output and a solid balance sheet.
Revenue for the year ended 31 December 2025 fell 15.4% to £95.7m from £113.1m, despite a 4.2% increase in productive hours, reflecting a shift towards more complex projects with lower steel content.
EBITDA declined to £6.1m from £12.4m, while underlying profit before tax dropped to £4.1m from £10.8m.
Reported profit before tax was £1.3m, compared with £10.8m a year earlier, after £2.8m of non-underlying costs primarily related to the closure of the group's Yate facility.
Profit for the year also came in at £1.3m, down from £8.3m, while basic earnings per share fell to 10.4p from 66.2p.
Underlying basic earnings per share decreased to 27.1p from 66.2p.
The AIM-traded group ended the year with cash and cash equivalents of £20.5m, compared with £21.7m in 2024, and remained debt free.
Return on capital employed declined to 11.9% from 36.9%.
The board recommended a dividend of 11.0p per share, down from 25.0p the previous year, in line with its policy of reflecting underlying earnings while maintaining a robust balance sheet.
Billington said it had secured a strong level of production hours for projects scheduled for delivery in 2026 and 2027, providing improved visibility, while ongoing operational changes, including the consolidation of structural steel operations in Barnsley, were expected to enhance efficiency.
"Billington delivered a robust performance in 2025 against the backdrop of very challenging market conditions and with continuing pricing pressure across the sector," said chief executive Mark Smith.
"Despite this, we maintained strong operational output, protected margins and secured a number of technically demanding, higher-value contracts that provide good visibility into 2026."
"The consolidation of our structural steel operations in Barnsley, alongside continued investment in capacity and capability, has improved our cost base and operational efficiency.
"With a healthy order book, growing pipeline of opportunities and a robust balance sheet, we entered 2026 with increased confidence and expect to deliver an improved financial performance in 2026, in line with market expectations."
At 1400 BST, shares in Billington Holdings were down 3.83% at 389.5p.
Reporting by Josh White for Sharecast.com.
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