Type in the area above to perform a search. Results will appear on the next page
For further information regarding Insider events, please use the contact details below:
T: 0161 907 9758 E: eventenquiry@newsco.com
The Corporate Finance Guide Insider ranks…
Turnover has grown to more than £400m in the latest full-year results for Severfield, with the listed structural steel group also benefitting from a record order book that includes Everton FC's new stadium.
The Thirsk-headquartered company reported revenue of £403.6m for the year ended 26 March 2022, up 11 per cent from £363.3m in 2020/21.
Underlying profit before tax also grew by 11 per cent to £27.1m from £24.3m the previous year.
Severfield said the figures demonstrated the resilience of the group in challenging market conditions.
The company's UK and Europe order book stood at a record £486m at 1 June 2022 – compared to £393m at 1 November 2021 – and includes new industrial and distribution, film studio, commercial office and bridge orders and the new stadium for Everton FC.
Its India order book grew to £158m from £140m, reflecting strong underlying demand for structural steel in India.
The group also secured a new £50m revolving credit facility maturing in December 2026.
Alan Dunsmore, chief executive at Severfield, said: "We are delighted to be reporting a resilient and strong performance despite the ongoing market challenges.
"The group's growth strategy is delivering a record order book with a broad diversity of sectors, geographies and clients, providing us with good earnings visibility through 2023 and beyond.
"Although inflation and supply chain pressures remain, we are managing these well and the earnings visibility gives us confidence in maintaining our positive performance expectations for 2023."
Severfield has increased its total dividend increased by 7 per cent to 3.1p per share, from 2.9p per share in 2021, including a proposed final dividend of 1.9p per share.
Stephen Farrell, Senior Digital Staff Writer T: 0844 980 0183 E: stephen.farrell@newsco.com
Andy Slim, Managing Director, North T: 0113 220 4411 E: andrew.slim@newsco.com
© Newsco Insider Limited | Registered in England and Wales with Number 02709518 rights reserved Sitemap | Terms & Conditions | Privacy Policy & Cookies