RCS - Severfield PLC - Progressive publishes new research

SeverfieldAnnouncement

23/11/2021 08:00

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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.

Click here for full analysis
(https://www.progressive-research.com/research/small-h1-beat-despite-supply-chain-challenge/)

 

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