Source - RNS
RNS Number : 9590I
Severfield PLC
06 September 2016
 

6 September 2016

Severfield plc

("the Company" or "the Group")

AGM Trading Update

 

Severfield plc, the market leading structural steel group,

issues an update on current trading for its AGM

At the Company's Annual General Meeting, to be held today at 12.00 noon, Aldwark Manor Hotel, Aldwark, Alne, York YO61 1UF, the Chairman, John Dodds, will make the following statement.

 

Current Trading

 

The Group's trading performance and financial position remain in line with management expectations.

 

UK

 

The UK order book of £268m as at 31 August has remained at a very strong level in the period following the EU referendum result and continues to include work across a wide range of market sectors and project sizes. Our pipeline of potential future orders has also remained stable with a good balance of work across all key market sectors.

 

India

 

With an order book of £37m the Indian business remains steady and continues to generate an encouraging level of new opportunities amid signs that economic optimism in the country is beginning to increase.

 

Outlook

 

With its strong order book, continuing profit improvement programme and our ability to work across a wide range of market sectors, including infrastructure, the UK business is well placed to continue to meet expectations. The Indian business continues to perform steadily and is well placed to benefit from any improvement in the Indian economy. Overall, the Group is on track to progress as expected over the remainder of the financial year.

 

Half-Year Results

 

Severfield will announce its financial results for the half-year ending 30 September 2016 on 22 November 2016.

 

 

For further information, please contact:

 

Severfield plc

Ian Lawson

Chief Executive Officer

 

01845 577 896


Alan Dunsmore

Finance Director

 

 

01845 577 896

Jefferies International Limited

Simon Hardy

020 7029 8000


Harry Nicholas

 

 

020 7029 8000

Bell Pottinger

Nick Lambert

020 3772 2558


Dan de Belder

020 3772 2561


Zara de Belder

020 3772 2512

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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