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Billington

May 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Billington’s FY23 results were barnstorming, with sales up 52% to £132m, pretax profit up 130% to £13.4m and EPS up 110% to 79.3p. Net cash climbed by £10m to £22m, culminating in a very generous 33p dividend (20p ord and 13p special). For those who haven't looked at the business, Billington’s mainstay is structural steel fabrication and it is called upon by a client’s architect or engineers to convert their drawings to buildable pieces and connectors to form the skeletons of steel-framed buildings. Billington buys tonnes of cold rolled steel from British Steel and Corus in the UK and also from Arcelor Mittal in Europe, and at its two sites in Barnsley and Bristol it operates lines dedicated to cutting, drilling, shot blasting an ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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