Billington Share Discussion Threads

[wjccghcc] 18/4/2023 09:38

Fincap have moved share based payments to above the line to make them comparable to what the company reports. Most companies add them back to give an adjusted EPS figure so this is more conservative. Forward PE 7 even on this basis with a 4% yield and 20% mkt cap in net cash.

[matt123d] 18/4/2023 08:56

Haha. Just someone feeding their ego by stating their gain and at the same time trying to justify they are correct in their decision to sell.

[nocton] 18/4/2023 08:52

"Pretty unexciting numbers"
EezyMunny, I think you are on the wrong page and looking at a different co.? Earnings per share up about 5X in a very challenging year.

[eezymunny] 18/4/2023 08:27

Pretty unexciting numbers IMO.

Profits well below f/c?
Stacks of capex.

Tough old business.

I'm out today. Unloaded a fair few. Most with almost 100% gain :)

Where's there's muck. Value investing :)

[davebowler] 13/4/2023 02:42

Master Investor tips this.

[value hound] 09/3/2023 23:58

Update from Simon Thompson:

Buoyed by a bumper order book, a more profitable revenue mix and sales pipeline, house broker FinnCap upgraded its 2022 and 2023 earnings per share (EPS) estimates by almost a third last September, and by an eye-watering 50 and 55 per cent, respectively, in mid-December. Today’s pre-close trading update has forced analysts to push through further mid-teens EPS upgrades for both years, based on pre-tax profit rising fivefold to £6.6mn (2022) and by a further 33 per cent to £8.8mn this year. On this basis, expect EPS of 45.7p (2022) and 57.1p (2023).

Moreover, net cash is surging, up from £9.4mn (2021) to £11mn (91p) and is forecast to rise to £15.4mn (27p) by the year-end. So dividend guidance has been raised, too. FinnCap pencils in a 2022 dividend per share of 15.5p (41 per cent upgrade), rising to 20p in the current year (54 per cent), the latter underpinned by a 13 per cent free cash flow yield. Rated on a cash-adjusted prospective price/earnings (PE) ratio of 5.1 and offering a forward dividend yield of 5.3 per cent, the shares continue to rate a buy.

[terry236] 09/3/2023 08:31

Happy days, a really well run business

[norbert colon] 09/3/2023 07:49

Well done to all holders

[value hound] 09/3/2023 07:26

Another excellent update; stand by my 430p estimate

[value hound] 27/2/2023 12:36

So presumably Close's buying has been helping push up the sp?

I have 430p as a reasonable value fwiw.

[boonkoh] 14/12/2022 12:09

Does their profit upgrade next year assume a mitigated impact from the removal of govt energy support for businesses from April? ?

[yf23_1] 14/12/2022 09:09

I looked back at 2021 full year results, it was 12.1m shares.

[value hound] 14/12/2022 08:55

I've been using 12.93m shares for my calcs

[yf23_1] 14/12/2022 08:50

Any idea why ADVFN's figures for mkt cap is 10 times too big ?
Did they do a recapitalisation at some stage ?

[eezymunny] 14/12/2022 08:20

My suspicion is that they smash £5m pbt for 2023. They're either super-confident to be issuing such an update a year+ in advance, or full of hype - and don't see the latter being their modus operandi over the years.

All gotta be executed of course...

[tresham] 14/12/2022 07:43

There are 12.9 million shares @ £2.3, capitalised at £30m and I guess about £5m profit in 2023

[value hound] 14/12/2022 07:29

Not too shabby - beginning the long climb to £3 today perhaps? They've covered off next year for us, too:
"The order book, combined with further opportunities also provides increased confidence for 2023 and the Company now expects adjusted profit before tax for the year ending 31 December 2023 to also be significantly ahead of the Board's previous expectations."

[melloteam] 29/10/2022 12:16

Just to let shareholders and prospective investors know that Billington Holdings will be one of the companies presenting at MelloLondon, the two-day investor conference on Wednesday 16th and Thursday 17th November 2022. The event will also feature top quality keynote speakers such as Lord Lee, Katie Potts, Andy Brough, Gervais Williams and many more. You can also expect educational workshops and panel sessions; 50 exhibiting companies; and over 100 company presentations.

For more information, click here:

Tickets for 1 day are £99 and tickets for 2 days are £159. To get 50% off, use code MMTADVFN50.

[value hound] 27/9/2022 17:20

Re-tipped by Simon T on the back of todays results who concludes:

"Although macroeconomic headwinds are likely to remain for some time, particularly in relation to material availability, price volatility and inflationary pressures, the directors continue to see a consistent stream of contract opportunities at solid margins including large retail distribution warehouses, data centres, 'Gigafactories', food processing developments, public sector works, rail infrastructure and stadium developments. This augurs well for the future as does the fact that the group insures its credit exposure to construction contractors and mainly focuses on projects with more robust larger organisations in order to mitigate risk.

"Although Billington’s share price is unmoved since I covered the annual results (‘On the road to recovery’, 26 April 2022) and is trading at the 214p entry point in this year’s portfolio, this represents a dramatic outperformance of the FTSE Aim All-Share Total Return index which has declined 23 per cent in the same period. It also reflects the value proposition as the shares are rated on modest price/earnings (PE) ratios of 8.1 (2022) and 6.7 (2023), offer prospective dividend yields of 3.7 per cent (2022) and 4.7 (per cent), and are trading on a 14 per cent discount to book value. finnCap’s upgraded target price of 320p (from 270p) is not unreasonable. Buy."

[tole] 01/5/2022 14:43

https://masterinvestor.co.uk/equities/small-cap-catch-up-featuring-rbn-tly-and-biln/Billington Holdings (LON:BILN) – fair value of 350p a shareEarlier this week the leading structural steel and construction safety solutions group reported its results for 2021.Revenues were up 25.3% at £82.7m, while underlying pre-tax profits were 23.5% lower at £1.3m (£1.7m), earnings dropped from 11.3p to 8.1p per share.On the face of it those results look disappointing – however I reckon that the group did well in the face of some very challenging conditions.It is now ready to bounce back this year – with analysts John Cummins and Matthew Davis at WH Ireland estimating £90.3m sales this year then £100.5m next year, recovering profits to £3.0m then £4.0m respectively for 2022 and 2023.That should see earnings coming out at 19.3p then 25.2p per share.I really like this group and I see its shares climbing again back up to the 343p level that they were this time last year, they are now just 233p, showing some good upside potential.The brokers consider that the 'fair value' is closer to 350p.

[km18] 27/4/2022 15:42

Bilington Holdings is a leading structural steel and construction safety solutions specialists and has delivered annual pre-tax profits materially ahead of analyst expectations since the firm enhanced its orderbook. This evidence is supported by the £7m surge in inventories and net cash hike to £9.4m, enabling the firm to provide financial security to customers while benefiting from higher-margin contracts. As a result, operating profit soared by 9%, rebounding from £1.3m to £3m which forced up EV/EBITDA to 4.31x, derived from a healthy and robust sales pipeline. Despite the plausible financials prospects, Bilington Holdings is still undervalued with respect to its peers, since the firm’s P/E ratio is 11.2x, lower than building products industry benchmark of 14.7x, hence investors can purchase the stock cheaply.

[cheshire] 26/4/2022 07:18

Good results today will start the recovery of the share price IMHO

[tole] 19/4/2022 21:39

https://masterinvestor.co.uk/equities/taking-a-small-cap-look-at-mrl-ted-and-cns/Billington Holdings (LON:BILN) – hassles in 2021 and better times in 2022This group is one of the UK's leading structural steel and construction safety solutions specialists.It will be declaring its 2021 final results on Tuesday 26 April.It had a number of hassles within the last year, including the failure of one of its main contractor clients. I understand that it is discussing how the particular contract gets completed and that it gets its due payments form the business that has now been placed under administration.Despite its trading problems I continue to like this group, it is a 'goer on' in my view and I take the view that it will win masses more new business over the next few years.I first profiled the company in April 2019 with its shares at 266p, they hit 443p in February 2020 just before Covid-19 impacted markets generally.Since then, its shares have been back to 188p and are currently trading around the 227p level, at which I would be a buyer.This £28m capitalised group could be in line to more than double its 2021 pre-tax profits this year, estimates of £1.3m for 2021 and £2.7m this year.