Results for the FY to March showed a 16% rise in PBT, with little impact from Covid-19. Financial guidance remains suspended, due to immediate uncertainties, but we believe longer-term demand will be fuelled by infrastructure, particularly HS2 projects which the UK’s leading structural steel group is bidding for, and logistics and data centres, boosted by the pandemic. The Group has a strong net cash balance and additional headroom and predicts sufficient cash for even its ‘worst
17 Jun 2020
Strong FY results and poised for HS2 boost
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Strong FY results and poised for HS2 boost
Severfield Plc (SFR:LON) | 55.8 0 0.0% | Mkt Cap: 172.7m
- Published:
17 Jun 2020 -
Author:
Alastair Stewart -
Pages:
15
Results for the FY to March showed a 16% rise in PBT, with little impact from Covid-19. Financial guidance remains suspended, due to immediate uncertainties, but we believe longer-term demand will be fuelled by infrastructure, particularly HS2 projects which the UK’s leading structural steel group is bidding for, and logistics and data centres, boosted by the pandemic. The Group has a strong net cash balance and additional headroom and predicts sufficient cash for even its ‘worst