Published on: November 25, 2020
Diversity supports resilient H1 performance
Severfield’s diverse range of end-markets supported a 40% increase in sales despite “challenging” conditions for Britain’s leading structural steel specialist in its first half results. Profitability and net cash also improved, with the Group predicting a further increase in profit in the second half. We have reinstated our forecasts, which initially assume the Group returning to peak earnings over a three-year horizon, boosted by further growth in Europe and recovery in the Indian JV.