Firm reports strong performance

12/05/2010

South Yorkshire's structural steel and engineering firm Billington Holdings has reported strong performance despite the tough economic climate.
According to the Barnsley-based company, its annual pre-tax profits increased by nearly 30% to £5.3 million.
Last week, German group SMT Scharf bought two of Billington's businesses involved in the mining industry for £1.8 million.
Dosco Holdings, which comprises of Dosco Overseas Engineering and Hollybank Engineering, was sold by the firm. Both the businesses were based in Nottinghamshire.
Commenting on the company's performance, chairman Peter Hems said: "I am delighted at the group's strong performance for the year. Our expertise and reputation is second to none and has played an integral part in our achievements throughout the year.
"Despite challenging market conditions, we have remained profitable and doubled our cash position. The disposal of our loss making non-core assets, Dosco and Hollybank, allows us to focus on our main business of structural steel and building safety systems.
"We have continued to build our presence in the health, defence and education markets and are particularly pleased with our progress with private sector clients including supermarkets."
He added the firm is cautiously optimistic about the prospects in 2010, and it is ready to exploit any market opportunities in the near future.
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