October 07, 2008
Severfield-Rowen net profit during H1 up by 33% YoY
Yorkshire based structural steel group Severfield Rowen Plc announced its H1 results of 2007. Severfield Rowen Plc said that during January to June 2007 period its revenue was GBP 137.56 million up by 5% YoY as compared to GBP 130.77 million in January to June 2006 period and operating profit was GBP 15.16 million up by 33% YoY from GBP 11.39 million. Profit before tax increased by 34% YoY to GBP 15.88 million.
| | H1 ‘07 | H1 ‘06 | Change |
| Revenue | 137.56 | 130.77 | +5% |
| Profit from operations | 15.16 | 11.39 | +33% |
| Profit before tax | 15.88 | 11.81 | +34% |
Mr Peter Levine chairman of Severfield Rowen said that “Severfield Rowen continues to make significant and sustained progress and delivered yet another set of record half year results. Profits, earnings per share, cash balances and dividends all increased significantly and we are particularly pleased with achieving a double digit operating margin. This progress is reflected in current trading being in line with management’s expectations. Our record order book gives us excellent visibility and we continue to operate in buoyant markets which are experiencing high demand for large scale projects. The integration of Fisher Engineering into the Group will enhance our geographical exposure, giving us a substantial foothold in the Irish market.
