UK headquartered world’s leading structural steel group Severfield has announced its results for the six month period ended 24 September 2022.Revenue – GBP 234.9 million, up 20% YoYUnderlying profit before tax - GBP 12.1 million, up 17% YoYProfit before tax – GBP 10.2 million, up 29% YoYShare of profit from JSSL – GBP 0.6 million, up 100% YoYSeverfield Chief Executive Officer Mr Alan Dunsmore said “Our high quality order book reflects our significant market sector, geographical and client diversification and provides us with good earnings visibility. Our new simplified divisional structure in the UK and Europe, with our three divisions: Commercial and Industrial, Nuclear and Infrastructure, and Products and Processing, continues the evolution of our strategy and builds on the momentum generated from the operational improvement initiatives that have been put in place over the last eight years.”Mr Dunsmore added “Our Indian business continues to see strong demand for structural steel and we are ramping up the production at our Bellary facility towards its maximum capacity of 100,000 tonnes while also looking to identify another plot of land to facilitate the future expansion of the business.”--------------------Order Book on 1 NovemberUK & Europe– GBP 464 million as against GBP 484 on 1 JuneIndia - GBP 143 million as against GBP 158 million on 1 June-----------OutlookUK and Europe - Tendering and pipeline activity remain at consistently high levels, including opportunities in the industrial and distribution, transport infrastructure, nuclear, data center and commercial office sectorsIndia – With Strong and growing demand for structural steel, JSSL remains very well-positioned to take advantage of an economy which is expected to grow significantly in the medium termInflationary pressures remain a challenge but continue to be well-managedSeverfield is the UK's market leader in the design, fabrication and construction of structural steel, with a total capacity of 130,000 tonnes of steel per annum. The Group also has an established presence in the expanding Indian market through its joint venture partnership with JSW Steel.
UK headquartered world’s leading structural steel group Severfield has announced its results for the six month period ended 24 September 2022.Revenue – GBP 234.9 million, up 20% YoYUnderlying profit before tax - GBP 12.1 million, up 17% YoYProfit before tax – GBP 10.2 million, up 29% YoYShare of profit from JSSL – GBP 0.6 million, up 100% YoYSeverfield Chief Executive Officer Mr Alan Dunsmore said “Our high quality order book reflects our significant market sector, geographical and client diversification and provides us with good earnings visibility. Our new simplified divisional structure in the UK and Europe, with our three divisions: Commercial and Industrial, Nuclear and Infrastructure, and Products and Processing, continues the evolution of our strategy and builds on the momentum generated from the operational improvement initiatives that have been put in place over the last eight years.”Mr Dunsmore added “Our Indian business continues to see strong demand for structural steel and we are ramping up the production at our Bellary facility towards its maximum capacity of 100,000 tonnes while also looking to identify another plot of land to facilitate the future expansion of the business.”--------------------Order Book on 1 NovemberUK & Europe– GBP 464 million as against GBP 484 on 1 JuneIndia - GBP 143 million as against GBP 158 million on 1 June-----------OutlookUK and Europe - Tendering and pipeline activity remain at consistently high levels, including opportunities in the industrial and distribution, transport infrastructure, nuclear, data center and commercial office sectorsIndia – With Strong and growing demand for structural steel, JSSL remains very well-positioned to take advantage of an economy which is expected to grow significantly in the medium termInflationary pressures remain a challenge but continue to be well-managedSeverfield is the UK's market leader in the design, fabrication and construction of structural steel, with a total capacity of 130,000 tonnes of steel per annum. The Group also has an established presence in the expanding Indian market through its joint venture partnership with JSW Steel.
