Billington Holdings PLC on Thursday said its annual profit will top market expectations, with the company hailing its ‘strong order book’ and ‘healthy pipeline’.

Billington shares rose 11% to 388.00 pence each in London on Thursday afternoon.

The Barnsley, England-based structural steel and engineering activities firm said a recovery it enjoyed last year, has continued early in 2023.

Chief Executive Officer Mark Billington said: ‘The benefit of efficiency enhancements implemented throughout the group, combined with a strong order book and a healthy pipeline of further opportunities, provides increased confidence in delivering an improved group financial performance.

‘I am therefore pleased to report that I now expect the group to achieve profits for 2023 ahead of current market expectations.’

Billington expects to declare a final dividend for 2022, an outcome also ‘ahead of market expectations’.

The company expects to announce final results for 2022 on April 18.

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