Progressive publishes new research

RNS Number : 2502T

Severfield PLC

23 November 2021

 

Small H1 'beat' despite supply chain challenge Strong trading and a new record high for the order book for Britain's leading structural steel specialist drove a 22% increase in adjusted interim PBT, slightly exceeding its previous guidance on the H1:H2 split. This underpins our FY2022E forecasts, which we are not changing at this point, while the 37% Y/Y increase in orders provides increased visibility through to FY2023E. The strong first-half performance was achieved despite supply chain and inflationary pressures in the UK, while the Indian JV returned to profitability amid clear signs of economic recovery from Covid.

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