Tuesday, July 14, 2020

Severfield sees order book reach £230m

Severfield, the Thirsk-based structural steel group, has seen its order book reach £230 million as revenues and profits rose.

For the year ended 30 September 2018, the group saw revenue rise by 9% to reach £149.1 million – up from £137.1 million from H1 2017.

Underlying profit before tax, meanwhile, was up 2% to £13.1 million compared to a “particularly strong” H1 2017 profit of £12.9 million.

During this period, the group has undertaken over 7o projects in key markets, including the new stadium for Tottenham Hotspur FC and the retractable roof for Wimbledon No. 1 Court.

The group also put in a strong performance in India, citing its joint venture, as well as its overall market position. As of 1 November 2018, its Indian order book stood at £124 million.

“Our continued operational and strategic progress has resulted in another period of growth for the Group,” said CEO Alan Dunsmore.

“In addition to a high quality and stable UK order book, we continue to see good progress in India and have established exciting new organic opportunities for growth.”

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