Severfield (SFR)

Sector:

Engineering

Index:

FTSE Small Cap

87.00p
   
  • Change Today:
      2.80p
  • 52 Week High: 87.00p
  • 52 Week Low: 61.00p
  • Currency: UK Pounds
  • Shares Issued: 303.95m
  • Volume: 26,452
  • Market Cap: £264.44m
  • RiskGrade: 172

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Severfield pleased with performance as order book grows

By Josh White

Date: Thursday 25 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Structural steel company Severfield updated the market on the financial year ended 31 March on Thursday, reporting that its overall trading performance had continued to be in line with management expectations.
The London-listed firm said its financial position remained "good", with year-end net funds totalling approximately £25m, down from £33m year-on-year.

In the UK and Europe, its order book stood at £274m as at 1 April - up from £230m on 1 November - and continued to include a high proportion of smaller, lower risk projects which the board said typically had shorter lead times.

The order book also included the first orders secured by its new European business venture based in the Netherlands.

Severfield explained that the order book remained in line with its normal levels, which it claimed typically equated to eight-to-10 months of annualised revenue.

"Our pipeline of potential future orders has remained stable with a good balance of work across all key market sectors," the board explained.

"Both order book and pipeline performance are consistent with our continued progress towards our strategic targets."

Following extensive negotiations with all stakeholders, the company said it had now agreed a final settlement for the remedial bolt replacement works at Leadenhall, resulting in no further costs for the group.

In India, Severfield said its joint venture had continued to perform well in the second half of the year.

The market for structural steel in the country continued to improve, which it said was evidenced by its order book of £149m as at 1 April , up from £124m on 1 November.

That included a large recent commercial order in the state of Andhra Pradesh.

"The improving market position is also reflected in a growing pipeline which includes a number of potential commercial projects, together with various industrial opportunities, including those for our joint venture partner, JSW Steel," the board said.

"The expansion of the Bellary facility is now underway and is expected to be completed towards the end of the 2020 financial year."

Severfield said it would announce its financial results for the year ended 31 March on 19 June.

As at 1319 BST, shares in Severfield were up 0.13% at 74.1p.

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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 87.00p
Change Today 2.80p
% Change 3.33 %
52 Week High 87.00p
52 Week Low 61.00p
Volume 26,452
Shares Issued 303.95m
Market Cap £264.44m
RiskGrade 172

Severfield Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
7.41% above the market average7.41% above the market average7.41% above the market average7.41% above the market average7.41% above the market average
2.7% below the sector average2.7% below the sector average2.7% below the sector average2.7% below the sector average2.7% below the sector average
Price Trend
63.88% above the market average63.88% above the market average63.88% above the market average63.88% above the market average63.88% above the market average
31.71% above the sector average31.71% above the sector average31.71% above the sector average31.71% above the sector average31.71% above the sector average
Income
47.47% above the market average47.47% above the market average47.47% above the market average47.47% above the market average47.47% above the market average
41.67% above the sector average41.67% above the sector average41.67% above the sector average41.67% above the sector average41.67% above the sector average
Growth
2.64% below the market average2.64% below the market average2.64% below the market average2.64% below the market average2.64% below the market average
73.68% below the sector average73.68% below the sector average73.68% below the sector average73.68% below the sector average73.68% below the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 3
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
  Interim Final
Ex-Div 12-Dec-19 15-Aug-19
Paid 10-Jan-20 13-Sep-19
Amount 1.10p 1.80p

Trades for 22-Jan-2020

Time Volume / Share Price
16:35 911 @ 87.00p
15:52 5,000 @ 84.18p
15:41 3,330 @ 84.18p
13:23 4,650 @ 84.18p
12:08 5,908 @ 84.20p

Severfield Key Personnel

COO Ian Cochrane
CEO Alan Dunsmore
Finance Director Adam Semple

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