High profile projects boost Severfield
BRITAIN’S BIGGEST steel work contractor Severfield reported a healthy order book with a good mix of projects after taking on a number of high profile orders such as Wimbledon No.1 Court and the new stadium for Tottenham Hotspur F.C.
The Thirsk-based group said trading is in line with expectations and as a result of the current phasing of contract works, the results for the full year are expected to be more first half weighted than in the prior year
Severfield’s chairman John Dodds told shareholders at the AGM in York that the group’s trading performance and financial position is in line with management expectations and the outlook for the year ending March 31 remains unchanged.
“The UK order book of £221m as at September 1 remains healthy with a good mix of projects, and is in line with our normal order book levels which typically equate to eight to ten months of annualised revenue,” Mr Dodds told shareholders.
“Both the quality of the order book and the strength of the UK pipeline are consistent with our continued progress towards our strategic targets.”