Shares in Billington Holdings PLC (AIM:BILN) jumped 13% in early trading on Monday after the steel manufacturer reported record interim results.
Though the UK’s steel industry has struggled of late, particularly after last year’s hike in energy prices, Barnsley-based Billington hailed a strong first half across the board.
Revenue jumped 30% to £60.15 million, the firm reported, while pre-tax profit climbed from £1.30 million to £4.60 million in the six months to June 2023.
This was on the back of strong showings from each of its business units, chief executive officer Mark Smith said, with the results marking a record first half for Billington.
“The group has been successful in securing a number of significant contracts and has a very healthy pipeline of current and potential business, with significant work in progress,” he added.
Shares climbed 13% to 389.75p.