Share Name Share Symbol Market Type Share ISIN Share Description
Billington LSE:BILN London Ordinary Share GB0000332667 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 237.50p 230.00p 245.00p 237.50p 237.50p 237.50p 2,691 07:52:28
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 56.7 3.1 21.1 11.3 32.96

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Date Time Title Posts
26/4/201718:14BILLINGTON HOLDINGS ::::: Structural Steel312.00

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Billington Daily Update: Billington is listed in the Construction & Materials sector of the London Stock Exchange with ticker BILN. The last closing price for Billington was 237.50p.
Billington has a 4 week average price of 235p and a 12 week average price of 222.50p.
The 1 year high share price is 290p while the 1 year low share price is currently 207.50p.
There are currently 13,879,327 shares in issue and the average daily traded volume is 8,285 shares. The market capitalisation of Billington is £32,963,401.63.
the big fella: Yes. I think we will see a steady rise from here. You could add 50% to the share price and they still wouldn't look expensive.
glasshalfull: BILN Like most other investors, I was impressed with today's results....op margin improved to 6% (from 5.4%); earnings 7% ahead of the upgraded forecast; net cash +£1.5m ahead of forecast & the dividend +66%. All wrapped up nicely with a positive outlook & pleasingly with order visibility into Q1 2018. So, I was also astonished that John Gordon felt the need to dribble out some shares today (@ 225p) and kill any share price momentum stone dead. Don't often observe stupidity from Directors like this on results day & I'm unable to recall a similar instance in recent times. The shares opened at 260p & I felt they warranted pushing on to the £3 level over the coming weeks & months, especially after investors considered the valuation in comparison to peer SFR and (perhaps) concluded the 40% PER discount unwarranted. The only consolation with Gordon's 40k sale is that it provided the opportunity for a top-up at a decent price towards close of play. Grrrr, thanks for that John!!! Back to the results. WH Ireland released an update reiterating their Buy recommendation & 340p price target. They commented, "...2016 proved to be another exceptional year, against a backdrop of increased confidence in the sector and increased order visibility. Full year earnings were 6.7% ahead of our estimates, adjusted EPS increasing 20% y-o-y to 25.4p and the proposed final dividend increased materially by +66% to 10.0p." & "...With Billington reporting significant forward visibility, we upgrade our FY 2017E EPS estimate by 9%. We see fair value at 340p and view the current 40% PER discount to Severfield as unjustified." BILN beat WH Ireland's upgraded forecasts across the board: - 2016 Turnover £63.3m (vs £60.8m estimate) Adj PBT £3.8m (vs £3.5m estimate) Adj EPS 25.4p (vs 23.8p EPS estimate) Dividend 10p (vs 6p estimate) Net cash £3.5m (vs £2.0m estimate) They have also upgraded the current year forecasts across the board: - 2017 est Turnover £65.5m (up from £62.7m) Adj PBT £3.9m (up from £3.6m) Adj EPS 26.2p (up from 24.1p EPS) Dividend 10.1p (up from 6.6p) Net cash £4.3m (up from £2.5m) That leaves BILN on a prospective PER of 8.8 for the current year & now offering a dividend yield of 4.4% A month ago I posted that BILN was (-14%) since Sept 2016 while SFR was (+43%) in the same timeframe. Quick check tonight reveals that over a year BILN are (-25%) while SFR are (+45%). Someone keep John Gordon away from his broker.... Kind regards, GHF
steelwatch100: If Gordon has 307,000 remaining & just wants to give them away @ 2.25 or less for a quick sale, then the share price is going nowhere quick until he has finished. He was a senior director back in the 90's so I would have thought his age may be driving the need for the sale?
steelwatch100: Chairman Hems has still got 307,000 shares & is prepared to give them away @ 2.25 (or lower) with this hanging over the market & no indication of intentions, then I feel the share price will remain at this level or lower for the foreseeable... We need a statement.
battlebus2: Incredible what's happening here, the sceptical side of me says the don't want a higher share price!!
rhomboid: I think institutions know about BILN but smaller size & illiquidity mean they're not interested, and that is why it is valued so cheaply. However as the co generates cash and grows those earnings will ultimately be reflected in dividends and share price appreciation ..patience pays
glasshalfull: BILN I've been having a nibble here over recent sessions. Didn't realise it would be so illiquid. BILN's shares are down (-20%) in the last 12 months, despite considerable progress in the period and upbeat t/s last week. While some PIs were disappointed by lack of a further "ahead" statement - WH Ireland raised earnings forecasts by (+26%) during 2016 - confirmation that they would achieve these upgraded expectation was fine with me & allowed the opportunity to pick up stock from those exiting. The divergence in share price between BILN & peer SFR has also magnified over recent months. Since mid-September 2016 BILN's share price has fallen back by (-14%) while SFR's share price has risen by (+43%). WH Ireland issued a short update on Friday (10th Feb) that intimated, "Billington has this morning released a robust trading update, confirming that results for the year to 31 December 2016 are anticipated to be in line with expectations. Importantly, excellent progress has been made at the new Shafton facility and all of the businesses are reported to have continued to perform well. A number of high profile projects were successfully completed in the year, including the Greenwich Peninsula Energy Centre. We view this morning's announcement positively, particularly against the context of our earnings estimates having been raised by c.26% during the course of 2016. On the back of the update, we leave our forecasts unchanged (FY 2016E PBT £3.5m/EPS 23.8p, FY 2017E PBT £3.6m, EPS 24.1p). With the shares trading on a current year PER of 10.1x (a c.25% discount to Severfield), we continue to see considerable upside to current levels and maintain both our Buy recommendation and 340p share price target. --- At a market cap of £31m & Enterprise Value of £27.5m they look decent value on a PER of 10 while offering a 2.8% yield. Fingers crossed some of the SFR magic rubs off on the BILN share price. Kind regards, GHF
interceptor2: Hands up, for clarity I did sell my holding here at the open, after the last statement which I highlighted in post 199, I was expecting an exceeding update here. There is nothing wrong with today's update which was in line with hints of satisfaction with current trading, so I would think that the share price should reward patient holders here in the future. I wish more patient holders than myself good luck and would be happy to see you all enjoy a good return.
jaf111: Interesting? / surprising? / strange? recent share price weakness in view of rising SFR share price....any explanations? Up until last month ago shares of both seems to be following similar pattern......
extrader: Hi guys, I'm trying to get a handle on the EBT angle, which seems to be artificially depressing BILN's share price and therefore may represent a buying opportunity. This all appears to have kicked off back in Jan 2016 with the flwg RNS : 07 January 2016 Billington Holdings Plc ("The Company" or "Billington") Trading by Employee Benefit Trust The Company confirms that it has received notice that on 6 January 2016, Bedell Trustees Limited as trustee of the Billington Holdings ESOP Trust disposed of 700,000 Ordinary Shares for nil consideration, accordingly Bedell Trustees Limited, as trustee of the Billington Holdings ESOP Trust, now holds 645,869 Ordinary Shares representing 4.993% of the total issued share capital of the Company. At the same time, the Company has received notice that on the same date, Bedell Trustees Limited, as trustee for the Billington Holdings Plc Employee Share Ownership Trust has acquired 700,000 Ordinary Shares in the Company, for nil consideration, and accordingly now holds 700,000 Ordinary Shares which represents 5.412% of the issued share capital. The Company is aware that Bedell Trustees Limited, as trustee for the various Billington Employee Trusts, has restructured its shareholding to facilitate the introduction of a number of new employee share option arrangements and any future option arrangements that may be established in the future. So it appears that : - prior to 7th Jan the Trustees for the then-existing ESOP(s) held 1,345,869 shares in the co, representing a hefty 10.405% of total shares; - post 7th Jan 'oldESOP' held 645,869 / 4.993% (significant ? as now below 5%) and 'newESOP - 'PLC' - held 700,000 / 5.412 % of the capital. The options under the 'old ESOP' had all vested by 1/1/2005 and as at 31/12 2015 there were per the A/R no options outstanding. It's not clear (to me at least) from the RNS s released recently which ESOP has been selling down (old, new or a combination) and whether it makes a difference. The major shareholders, apart from the ESOP(s), are Gutenga Investments PCC (49.9%) and Tarom Foundation (11.2%), the latter in turn owned 49.77% by the former. Both seem to be ultimately Liechtenstein Anstalt type companies, represented on BILN's Board by NED Alexander Ospelt. Whoever is behind the 2 Anstalts already effectively controls the company, I'm curious why they apparently want to reduce the ESOP stake, to the (short term ?) detriment of the share price. Any ideas as to what might be going on ? ATB
Billington share price data is direct from the London Stock Exchange
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