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Prices & Quotes - UK Markets - Severfield (SFR)

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Share Price:
Down 69.20p
Change Today:
-0.20p
Market Cap:
212.88m
Sector:
Construction & Materials

Severfield results to beat expectations

By Sean Farrell

Date: Thursday 22 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Severfield said it was trading well and that results for the year to the end of March would easily beat its expectations.
The structural steel company said it was winning high-quality work and that its 315m order book in the UK and Europe would support trading in 2022 and beyond. Severfield said the level of tendering and pipeline activity in the UK and Europe was very encouraging though at more competitive prices in sectors such as industrial and distribution and sports stadiums.

Severfield's Indian joint venture had a difficult first half but has broadly broken even in the second half. The order book was 104m on 1 April compared with 98m on 1 November. Potential orders include projects for clients with strong relationships, leaving the business in a good position to win more work "albeit we remain mindful of the evolving Covid-19 backdrop in India," Severfield said.

The company said: "The group is currently performing well and based on the good progress made in the second half of the 2021 financial year, we now expect to deliver a full year result which is comfortably above management's previous expectations."

Shares of Severfield rose 7.5% to 81.49p at 10:31 BST.

Severfield said cash generation in the second half was good and that it had a strong net financial position with about 4m of net funds at the end of the year. The company said it had signed up to the SteelZero initiative to speed up the steel industry's shift to net zero carbon emissions by 2050 with interim targets in 2030.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Severfield Market Data

Currency UK Pounds
Price 69.20p
Change Today -0.20p
52 Week High 82.60p
52 Week Low 65.80p
Volume 239,779
Shares Issued 307.62m
Market Cap 212.88m
Beta 0.06

Performance Indicators

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What The Brokers Say

Strong Buy 3
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Severfield Dividends

  Latest Previous
  Interim Final
Ex-Div 09-Dec-21 12-Aug-21
Paid 07-Jan-22 03-Sep-21
Amount 1.20p 1.80p

Trades for 01-Dec-2021

Time Volume / Share Price
15:03 157 @ 69.20p
15:02 641 @ 69.20p
15:02 72 @ 69.20p
15:02 1,184 @ 69.31p
14:29 33,523 @ 69.00p

Severfield Key Personnel

COO Ian Cochrane
CEO Alan Dunsmore
Finance Director Adam Semple