UK’s structural steel group Severfield has hailed a record order book and said it was well-placed to take advantage of significant future opportunities. The company said its UK and Europe order book stood at GBP 479 million as of 1 April 2022, up from GBP 393 million on 1 November, of which GBP 382 million is for the next 12 months. UK projects comprise 94% of this order book, with the remaining 6% representing projects in Europe and the Republic of Ireland. Severfield said "We continue to be encouraged by the current level of tendering activity across the Group, both in the UK and in continental Europe, and are well-positioned to take advantage of some significant opportunities in the industrial and distribution, battery plants and distribution centres, stadia and leisure, transport infrastructure, nuclear and data centre sectors. Despite seeing further input cost inflation, including in steel prices, and some disruption to raw material supplies as a result of Russia's invasion of Ukraine, we are currently managing these effectively, and steel remains largely a pass-through cost for the group." The group's Indian joint venture JSSL has also performed profitably and in line with expectations in the second half of the year, despite a difficult start to the year when output was disrupted by the second wave of Covid-19. The order book stood at GBP 166 million on 1 April 2022, up from GBP 140 million on 1 November. Severfield says the outlook for the group remains positive. It said “With a record UK and Europe order book, a very encouraging pipeline of opportunities, and a well-positioned business in India, the outlook for the group remains positive, although we remain mindful of the ongoing effects of Russia's invasion of Ukraine.” Severfield plc is the largest structural steel specialist in the UK. The North Yorkshire based company's major works include The Shard, the Olympic Stadium, and the Tate Modern. It has six sites and around 1,500 employees
UK’s structural steel group Severfield has hailed a record order book and said it was well-placed to take advantage of significant future opportunities. The company said its UK and Europe order book stood at GBP 479 million as of 1 April 2022, up from GBP 393 million on 1 November, of which GBP 382 million is for the next 12 months. UK projects comprise 94% of this order book, with the remaining 6% representing projects in Europe and the Republic of Ireland. Severfield said "We continue to be encouraged by the current level of tendering activity across the Group, both in the UK and in continental Europe, and are well-positioned to take advantage of some significant opportunities in the industrial and distribution, battery plants and distribution centres, stadia and leisure, transport infrastructure, nuclear and data centre sectors. Despite seeing further input cost inflation, including in steel prices, and some disruption to raw material supplies as a result of Russia's invasion of Ukraine, we are currently managing these effectively, and steel remains largely a pass-through cost for the group." The group's Indian joint venture JSSL has also performed profitably and in line with expectations in the second half of the year, despite a difficult start to the year when output was disrupted by the second wave of Covid-19. The order book stood at GBP 166 million on 1 April 2022, up from GBP 140 million on 1 November. Severfield says the outlook for the group remains positive. It said “With a record UK and Europe order book, a very encouraging pipeline of opportunities, and a well-positioned business in India, the outlook for the group remains positive, although we remain mindful of the ongoing effects of Russia's invasion of Ukraine.” Severfield plc is the largest structural steel specialist in the UK. The North Yorkshire based company's major works include The Shard, the Olympic Stadium, and the Tate Modern. It has six sites and around 1,500 employees
