A good all-round performance in FY18 provided some positive markers of progress including rising UK margins, a steep step-up in the Indian JV order book and a special dividend declared for the year. While we acknowledge some sector variations, the overall trading outlook appears to be similarly robust and our estimates are modestly higher now. A c 4% near-term yield (ie final plus special DPS) is an obvious draw. Sector diversity provides resilience and additional growth potential in our view
28 Jun 2018
Severfield - Progress made, more expected
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Severfield - Progress made, more expected
Severfield Plc (SFR:LON) | 69.6 0.6 1.2% | Mkt Cap: 215.4m
- Published:
28 Jun 2018 -
Author:
Toby Thorrington -
Pages:
7
A good all-round performance in FY18 provided some positive markers of progress including rising UK margins, a steep step-up in the Indian JV order book and a special dividend declared for the year. While we acknowledge some sector variations, the overall trading outlook appears to be similarly robust and our estimates are modestly higher now. A c 4% near-term yield (ie final plus special DPS) is an obvious draw. Sector diversity provides resilience and additional growth potential in our view