Bilby’s annual results buoy shares

AIM-listed home services provider Bilby (LON:BILB) saw its share price climb by 17.43% to 20.55p (as of 14:35 BST) despite reporting a drop in revenues for the year ended 31st May. Adjusted EBITDA rose by 48% for the period and the group booked a pre-tax profit after recording a loss in the prior year.

CEO David Bullen commented: “I am pleased with the progress that was made last year in addressing the loss-making divisions and implementing the organisational changes required within the Group. Our strong financial recovery reflects the extent of what has been achieved at an operational level, building a solid foundation upon which to grow the business and create long-term sustainable value for all stakeholders.

“In addition to addressing the immediate challenges presented by Covid-19, the focus for this current year is to build upon the foundations we have started. This will pave the strategic growth path for the organisation; strengthening our focus on our environmental, social and governance responsibilities whilst underpinning the organisation with continued solid operational and financial performance.

“We are resetting our compass and having tackled the legacies of the past, we are now fully focused on the positive potential of the future.

“The Group is in a far stronger position than it was a year ago, and I am confident that our collaborative culture and focus on high-quality customer service will ensure Bilby emerges in a strong position to deliver sustainable, profitable growth that creates value for our investors, customers and stakeholders alike“.