Severfield’s diverse range of end-markets supported a 40% increase in sales despite “challenging” conditions for Britain’s leading structural steel specialist in its first half results. Profitability and net cash also improved, with the Group predicting a further increase in profit in the second half. We have reinstated our forecasts, which initially assume the Group returning to peak earnings over a three-year horizon, boosted by further growth in Europe and recovery in the Indian JV.
25 Nov 2020
Diversity supports resilient H1 performance
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Diversity supports resilient H1 performance
Severfield Plc (SFR:LON) | 66.5 1.9 4.3% | Mkt Cap: 205.8m
- Published:
25 Nov 2020 -
Author:
Alastair Stewart -
Pages:
12
Severfield’s diverse range of end-markets supported a 40% increase in sales despite “challenging” conditions for Britain’s leading structural steel specialist in its first half results. Profitability and net cash also improved, with the Group predicting a further increase in profit in the second half. We have reinstated our forecasts, which initially assume the Group returning to peak earnings over a three-year horizon, boosted by further growth in Europe and recovery in the Indian JV.