Severfield Reports GBP 441 Million Structural Steel Order Book
Structural SteelSeverfield

Severfield Reports GBP 441 Million Structural Steel Order Book

UK based leading structural steel group Severfield plc has announced its results for the 12 month period ended 31 March 2021. Severfield Chief

UK based leading structural steel group Severfield plc has announced its results for the 12 month period ended 31 March 2021. Severfield Chief Executive Officer Mr Alan Dunsmore said “The Group’s strategy to build a balanced business, with geographic, sector and client diversity, has facilitated not only revenue growth of around 30 per cent over the last three years but has also provided us with resilience during the pandemic. Our strong balance sheet and ability to generate cash has enabled us to continue to invest in our operations and in strategic acquisitions, such as DAM Structures. We have an established platform for further operational and strategic progress in the year ahead and with the current order book levels and pipeline activity, have the capacity to deliver enhanced shareholder returns in the future.”

Highlights

  1. Revenue up 11% to GBP 363.3 million (2020: GBP 327.4 million)

  2. Underlying profit before tax of GBP 24.3 million (2020: GBP 28.6 million), demonstrates resilience of the Group against COVID-19 backdrop

  3. Acquisition of DAM Structures, an innovative steel fabrication company, giving the Group immediate access to attractive, complementary market sectors with strong growth potential including the propping, railway and steel piling markets

  4. Over 100 projects undertaken during the year in the UK, Ireland and continental Europe in diverse market sectors including industrial and distribution, data centres, nuclear and commercial offices

  5. UK and Europe order book of GBP 301 million at 1 June 2021 (1 November 2020: GBP 287 million), including GBP 18 million

  6. India order book of GBP 140 million at 1 June 2021 (1 November 2020: GBP 98 million. India output currently being disrupted by ongoing second wave of COVID-19, step up in order book, strong pipeline and existing client relationships leave JSW Severfield Structures Ltd very well positioned once current COVID-19 issues subside

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