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 to acquire steelwork business Harry Peers

By Josh White

Date: Tuesday 01 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Structural steel group Severfield has entered into an agreement to acquire 100% of the share capital of Harry Peers & Co - a full-service structural steelwork business - for a net initial consideration of £18m, payable in cash on completion, it announced on Tuesday.
The London-listed firm said a performance-based deferred consideration was in place, which could increase the purchase price by up to £7m, which would be payable in late 2020.

It explained that the acquisition would "significantly expand and extend" Severfield's current capabilities into "attractive" complementary market sectors - nuclear, process industries and power generation.

Combining the businesses would enhance Severfield's position as the UK's broadest structural steel services group, the board claimed.

For the 12 months ended 30 April, Harry Peers achieved audited revenues of £21.2m and profit before tax of £3.4m, with the value of the gross assets as at 30 April standing at £24m.

The acquisition consideration would be funded by a combination of cash reserves and a term loan, and was expected to be earnings-enhancing in its first full year of operation.

"This acquisition will help Severfield continue to deliver on its strategic objectives," said Severfield chief executive officer Alan Dunsmore.

"Harry Peers's experience in specialist, highly regulated, non-cyclical markets will enhance our future growth plans through expanding the group's capabilities and sector reach.

"We believe Severfield is best placed to help Harry Peers continue its profitable growth trajectory, through increased scale and investment and together with Harry Peers's strong management team we have a real opportunity to develop a broader position within the UK structural steel services market."

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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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