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By Dave Rogers2021-04-13T13:32:00+01:00
Steel firm warns on escalating price rises
Listed steelwork contractor Billington said projects cancelled and delayed because of covid-19 sent revenue tumbling more than a third last year.
The firm, whose current jobs include an indoor tennis facility for the All England Tennis Club at Wimbledon, said income in 2020 fell 37% to £66m.
Billington has warned the cost of raw materials will send structural steel prices up this year
Billington managed to stay in the black but pre-tax profit slumped to £1.7m from £5.9m in 2019.
It said it had claimed £730,000 from the government’s furlough initiative and had deferred a VAT payment of £671,000 into the coming year which it said would be paid off between now and next March.
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