Severfield, the leading structural steel work fabricator in the UK, is benefiting from robust demand from a range of sectors, which is reflected in the elevated order book (£483m vs 2016–21 average of £266m). In India, the joint venture is growing rapidly and capacity is to be expanded to cater for additional demand. However, the growth is not reflected in the c 7x P/E rating, which is the lowest level since the global financial crisis (GFC).
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