A strong set of interim results from Severfield this morning, indicating that full year results are expected to be comfortably ahead of previous expectations. All key metrics were moving in the right direction in H1. Revenue was up 16% to £137.1m and further self help led the operating margin higher to 9.3% from 7.0% last year, slightly flattered by a number of contract completions in the period. Adj. PBT was up 59% to £12.9m. Encouragingly, the order book has increased, with the UK order book a ....
21 Nov 2017
N+1 Singer - Severfield - Strong interim results lead to upgrades
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N+1 Singer - Severfield - Strong interim results lead to upgrades
Severfield Plc (SFR:LON) | 66.5 1.9 4.3% | Mkt Cap: 205.8m
- Published:
21 Nov 2017 -
Author:
Greg Poulton -
Pages:
3
A strong set of interim results from Severfield this morning, indicating that full year results are expected to be comfortably ahead of previous expectations. All key metrics were moving in the right direction in H1. Revenue was up 16% to £137.1m and further self help led the operating margin higher to 9.3% from 7.0% last year, slightly flattered by a number of contract completions in the period. Adj. PBT was up 59% to £12.9m. Encouragingly, the order book has increased, with the UK order book a ....