UK's Severfield sinks to 22-yr low on dour forecast, buyback cancellation
03/03/2025 11:52
** Severfield's shares SFR.L slump as much as 46.8% to 25.4p, their lowest in nearly 22 years ** Steel company expects FY26 underlying pre-tax profit to be lower than FY25 and cancels 10 mln pounds buyback programme ** Stock last down ~44%, swinging to YTD losses of ~7% (Reporting by Anandita Mehrotra in Bengaluru) ((Anandita.Mehrotra@thomsonreuters.com))