Bilby PLC Trading update (4536F)
February 21 2018 - 1:00AM
UK Regulatory
TIDMBILB
RNS Number : 4536F
Bilby PLC
21 February 2018
21 February 2018
Bilby Plc
("Bilby" or the "Group")
Trading update
Bilby Plc (AIM: BILB.L) the holding company to P&R
Installation Company Limited, Purdy Contracts Limited, Spokemead
Maintenance Limited and DCB (Kent) Limited, a leading gas heating,
electrical and building services provider today gives the following
trading update.
As announced at the time of Bilby's interim results in November
2017, the Group made considerable progress during the first half of
the current financial year. This included companies within the
Group continuing to take market share in their target market of
London and the South East, by winning new large-scale contracts
with major organisations. These included East Kent Housing, Saxon
Weald and Bexley Councils, Groveland Care Homes and additional
contract work for the Ministry of Defence. Work for these and other
new clients has started positively and in some instances, progress
is ahead of schedule.
In addition, Bilby is pleased to confirm that since the
beginning of 2018, the Group has already won a number of new
clients including Wandsworth Council and the University of Essex.
Bilby has also recently won a significant tender to provide gas
heating upgrade services for a leading housing association.
Furthermore, and testament to Bilby's focus on providing high
standards of customer service, a number of existing and
long-standing customers, including Hyde Housing, have recently
invited Bilby to broaden the scope of work that it provides. This
also reflects the success of the Group's buy and build acquisition
strategy. Through its four fully-integrated companies, Bilby has
been able to increase the services it offers its customers.
Customers in turn benefit from the operational synergies and
efficiencies created through the Group's tight focus on only the
London and South-East market, further supporting Bilby's ability to
deliver best in class service.
As a result of these factors, the Board is pleased to advise
that revenue and profitability for the year ending 31 March 2018
will be ahead of current market expectations.
Commenting, Sangita Shah, Non-Executive Chairman of Bilby
said:
"Our strong performance reflects the success of our core
commitment to provide excellent customer service. This focus has
driven the growth of our customer base and has given long-standing
customers the confidence to increase the scope of work we do for
them. Pleasingly, this momentum enables significant long-term
revenue visibility and gives the Board confidence that Bilby is
well positioned for the years ahead."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Enquiries
Bilby Plc 020 3874 7088
Phil Copolo, Deputy Executive Chairman
Sangita Shah, Non-Executive Chairman
David Ellingham, Finance Director
www.bilbyplc.com
Hudson Sandler 0207 796 4133
(Financial PR)
Charlie Jack
Bertie Berger
Northland Capital Partners 0203 861 6625
(Nominated Adviser and Broker)
Corporate Finance:
David Hignell
Matthew Johnson
Broking and Sales:
Bob Pountney
John Howes
This information is provided by RNS
The company news service from the London Stock Exchange
END
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