RCS - Severfield PLC - Progressive publishes new research

SeverfieldAnnouncement

20/04/2022 09:45

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RNS Number : 7351I  Severfield PLC  20 April 2022

 Orders surge as nuclear market reopens

 

 Severfield, Britain's leading structural steel specialist, has confirmed that
 it expects FY2022E results in line with its previous expectations. We are
 maintaining our profit estimates for FY2022E-24E but raise our revenues to
 reflect steel cost increases, which are passed onto customers. The outlook is
 underpinned by record orders, amid "significant opportunities" including
 'giga-factories', data centres and nuclear. The UK's 7 April Energy Security
 Strategy, prompted by Russia's invasion of Ukraine, puts new nuclear at the
 heart of plans to reduce dependence on foreign energy. We believe this and
 wider green and economic security issues should support long-term growth.

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