Structural steel firm boosted by a strong orders

Posted on 29 Apr 2018 and read 457 times
Structural steel firm boosted by a strong ordersThirsk-based structural-steel firm Severfield (www.severfield.com) has revealed that its overall trading performance continues to be in line with its upwardly revised expectations, boosted by strong order books in the UK and India.


In a trading update for the year to the end of March, the group said its financial position remains strong, with net funds of about £33 million.

The company said: “The UK order book of £242 million — as at 1 April — remains solid and continues to include work across a wide range of market sectors and project sizes.

"Our pipeline of potential future orders has remained stable, with a good balance of work across all key market sectors.”

It said that both its order book and its UK pipeline performance are consistent with continued progress towards its strategic targets, which include a profit of £26 million in 2020.

Meanwhile, its Indian business continued to perform well in the second half of the financial year.

Severfield continued: “The Indian order book of £65 million at 1 April remains strong and contains an appropriate mix of commercial work and lower-margin industrial work.

“We remain confident in the long-term development of the business, and we believe it continues to have a solid foundation from which to deliver future profitable growth.”

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