Barnsley-based structural steel and construction safety specialist Billington Holdings Plc said its 2025 revenue fell 15.4% to £95.7 million “despite a 4.2% increase in group productive hours, reflective of the group’s focus on more complex projects with reduced steel content.”
Billington said profit before tax fell to £1.3 million from £10.8 million.
“Pricing pressure combined with client led contract slippage was experienced during the year in many parts of the group leading to underlying profit before tax reducing to £4.1 million (2024: £10.8 million) …” said the firm’s chairman Ian Lawson.
“The group’s balance sheet remains strong with net assets of £50.4 million at 31 December 2025 (2024: £53.0 million), with a continuing strong gross cash balance of £20.5 million at 31 December 2025 (2024: £21.7 million) and the group remains debt free.
“During the year the group undertook a restructuring of its structural steel operations and ultimately resolved to close the Yate facility in Bristol, consolidating operations at Billington’s Wombwell and Shafton sites in Barnsley, local to all other group operations.
“Following a consultation with the affected employees at Yate, a proportion of them have now transferred to the group’s Barnsley facilities and I am pleased to note that over 90% of the employees we unfortunately had to make redundant have now found alternative employment, many with assistance from Billington.”
On dividends, Billington said: “In line with the board’s policy for the company to be paying dividends at a level that reflects underlying earnings, whilst continuing to maintain a robust balance sheet, a dividend of 11.0 pence per share in respect of 2025 (25.0 pence per share paid in respect of 2024) is recommended.”
Billington CEO Mark Smith said: “Billington delivered a robust performance in 2025 against the backdrop of very challenging market conditions and with continuing pricing pressure across the sector.
“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.”