Billington Holdings has reported strong profit and revenue growth in its full year results for the year ended 31 December 2016.

The structural steel specialist recorded a 11.6% rise in revenue, from £56.7 million in 2015 to £63.3m in 2016.

In addition, profit before tax rose 22.6% to £3.8m (2015: £3.1m), while around 25,000 tonnes of material was fabricated throughout the year.

With current market conditions providing opportunities for growth, and a solid order book with work through to the end of this year, Chief Executive Office (CEO) Mark Smith said 2016 was "another successful year for the Company".

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"Over the past year, the Company successfully maintained its order book, and has work continuing throughout 2017," he said.

"With the acquisition of Shafton, in December 2015, the Company began its expansion strategy and this year we are looking forward to progressing to the next stage. A number of tenants at the Shafton site will vacate shortly, allowing Billington to complete its facility adaptation programme, ready for operations to begin in earnest the second half of 2017.

"Given this strong set of results, Billington is pleased to deliver an increased annual dividend of 10 pence per share and we look forward to an equally busy year, maintaining the excellent work rate of 2016."

Mr Smith added that due to the current exchange rate resulting from Brexit, the Group is assessing the opportunity to expand its operations into Europe.

"The exchange rate environment, since the Brexit vote, has provided the Group with the opportunity to recommence the assessment of expanding its operations into Europe, which is something that Billington will continue to review in the coming year," he said.

(LM)