Severfield, Britain’s leading structural steel specialist, delivered an 11% increase in adjusted FY2022 PBT to £27.1m, just below our estimate despite “challenging market conditions” as steel price increases temporarily diluted margins. However, the group reiterated its guidance for FY2023E and we are maintaining our PBT estimates for the current financial year and next. We are also introducing a new forecast of further growth into FY2025E. This is driven by a range of long-term growth sectors, ....
15 Jun 2022
Severfield: Resilient FY result with forecasts maintained
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Severfield: Resilient FY result with forecasts maintained
Severfield Plc (SFR:LON) | 55.8 -1.7 (-5.2%) | Mkt Cap: 172.7m
- Published:
15 Jun 2022 -
Author:
Alastair Stewart -
Pages:
8
Severfield, Britain’s leading structural steel specialist, delivered an 11% increase in adjusted FY2022 PBT to £27.1m, just below our estimate despite “challenging market conditions” as steel price increases temporarily diluted margins. However, the group reiterated its guidance for FY2023E and we are maintaining our PBT estimates for the current financial year and next. We are also introducing a new forecast of further growth into FY2025E. This is driven by a range of long-term growth sectors, ....