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After a spate of insolvencies in the steel sector last year, markets have improved, according to Billington Steel chief executive Steve Fareham. 鈥淲e have picked up a number of contracts from rivals who have gone out of business in the last year and increased our market share,鈥� he said.

Fareham believes the cycle is now starting to turn, as the supply and demand balance is returning to normal. 鈥淚 believe we have reached the bottom of the cycle,鈥� said Fareham. 鈥淲e have seen a number of major and minor competitors removed from the sector, either voluntarily or as a result of financial collapse.鈥�

Steel prices are expected to increase in the near future but there is 鈥渓ight at the end of the tunnel鈥�, according to Fareham.
Work in the retail sector is expected to pick up as supermarkets expand, and Billington has also formed a joint venture, BS2, thought to include Bourne Steel, to target the London commercial sector.

鈥淏S2 is intended to focus on the high rise London commercial market, which appears to be an increasing opportunity in 2012 and beyond,鈥� said chairman Peter Hems.

2010 was a tough year for the firm, which reported its results this week. Revenes fell 26% to 拢42.3m, compared with 拢57.2m in 2009, while profits fell from 拢5.3m in 2009, to 拢1.4m in 2010.