Severfield plc, the market-leading structural steel group, is pleased to announce its interim results for the 6 month period ended 30 September 2017.

59% increase in underlying profit before tax, 29% increase in interim dividend, order book of £245m, full year results expected to be comfortably ahead of expectations

Highlights

  • Revenue up 16% to £137.1m (H1 2016: £118.2m)
  • Underlying* profit before tax up 59% to £12.9m (H1 2016: £8.1m)
  • Underlying basic earnings per share up 56% at 3.50p per share (H1 2016: 2.25p per share)
  • Interim dividend increased by 29% to 0.9p per share (H1 2016: 0.7p per share)
  • Continued strong cash performance, resulting in period-end net funds of £31.4m (31 March 2017: £32.6m) after equity investment in Indian joint venture of £5.3m to repay term debt
  • Over 80 projects undertaken during the period in key market sectors including the new stadium for Tottenham Hotspur F.C., the retractable roof for Wimbledon No. 1 Court and a new commercial tower in London at 22 Bishopsgate
  • Share of profit from Indian joint venture of £0.1m (H1 2016: loss of £0.2m) reflecting continued stability and profitability of the business
  • UK order book of £245m at 1 November 2017 (1 June 2017: £229m)
  • India order book of £79m at 1 November 2017 (1 June 2017: £73m)
  • 2018 full year results expected to be comfortably ahead of previous expectations

See the full press release on our RNS page here.

Severfield plc published this content on 21 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 21 November 2017 09:33:05 UTC.

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