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Severfield PLC (SFR)

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Wednesday 15 June, 2022

Severfield PLC

Progressive publishes new research

RNS Number : 9410O
Severfield PLC
15 June 2022

Resilient FY result with forecasts maintained


Severfield, Britain's leading structural steel specialist, delivered an 11% increase in adjusted FY2022 PBT to £27.1m, just below our estimate despite "challenging market conditions" as steel price increases temporarily diluted margins. However, the group reiterated its guidance for FY2023E and we are maintaining our PBT estimates for the current financial year and next. We are also introducing a new forecast of further growth into FY2025E. This is driven by a range of long-term growth sectors, which we highlight.


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