Severfield (SFR)

Sector:

Construction and Building Materials

Index:

FTSE Small Cap

63.00p
   
  • Change Today:
      1.00p
  • 52 Week High: 82.60
  • 52 Week Low: 60.00
  • Currency: UK Pounds
  • Shares Issued: 309.53m
  • Volume: 53,419
  • Market Cap: £195.01m
  • RiskGrade: 178

Severfield breaks back into black despite India loss

Date: Tuesday 03 Jun 2014

LONDON (ShareCast) - Structural steel group Severfield broke back into the black last year and said its Indian operations need further work but offered an opportunity for growth.

The FTSE SmallCap-listed outfit turned a previous £21.5m loss in the preceding 15 months into an underlying pre-tax profit of £4.0m in the year to end-March.

Revenues of £231.3m compare with £318.3m in the comparative 15-month period. Its post tax loss was cut to £2.6m and the dividend was withdrawn, with the board saying it "intends to introduce a progressive dividend policy" when the time is right.

Chief Executive Ian Lawson said the year saw stabilisation and recovery in the UK business but disappointment in India.

"During the financial year Severfield has achieved substantial operational improvements across the group and delivered a significant turnaround in underlying profit before tax," he explained.

"Pleasingly, the group's ongoing stabilisation and recovery generated increasing UK operating margins supported by a strong balance sheet and solid order book."

The Indian joint venture performed below expectations, however, with Severfield's share of losses increasing to £3.0m due to unexpected delays and timing variations to some of the contracts leading to the factory being underutilised and dragging on margin.

Lawson said "actions are being taken" to put the business in a better position and that management believe the market in India "continues to present significant future growth opportunities".

Shares in the company were down 3.3% to 54.63p by 16:00 on Tuesday.


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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Severfield Market Data

Currency UK Pounds
Share Price 63.00p
Change Today 1.00p
% Change 1.61 %
52 Week High 82.60
52 Week Low 60.00
Volume 53,419
Shares Issued 309.53m
Market Cap £195.01m
RiskGrade 178

Severfield Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
65.71% above the market average65.71% above the market average65.71% above the market average65.71% above the market average65.71% above the market average
47.37% above the sector average47.37% above the sector average47.37% above the sector average47.37% above the sector average47.37% above the sector average
Price Trend
19.39% below the market average19.39% below the market average19.39% below the market average19.39% below the market average19.39% below the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average
Income
80.48% above the market average80.48% above the market average80.48% above the market average80.48% above the market average80.48% above the market average
53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average
Growth
40.14% below the market average40.14% below the market average40.14% below the market average40.14% below the market average40.14% below the market average
85.37% below the sector average85.37% below the sector average85.37% below the sector average85.37% below the sector average85.37% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Severfield Dividends

  Latest Previous
  Final Interim
Ex-Div 08-Sep-22 09-Dec-21
Paid 14-Oct-22 07-Jan-22
Amount 1.90p 1.20p

Trades for 24-Jun-2022

Time Volume / Share Price
16:35 2,752 @ 63.00p
16:15 82 @ 63.00p
15:24 86 @ 63.20p
15:24 500 @ 63.20p
13:48 13 @ 63.20p

Severfield Key Personnel

COO Ian Cochrane
CEO Alan Dunsmore
Finance Director Adam Semple

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