Published on: April 22, 2021
Forecasts lifted after steel group raises the bar
We have raised our PBT estimates for FY2021E – 2023E after Britain’s leading structural steel specialist this morning guided that results for FY2021E will be “comfortably above previous expectations”. Orders have risen by 10% since November, net cash was better than we expected and the Group is “very encouraged” by the pipeline of new work opportunities in the UK and Europe, while conditions in the Indian JV have remained robust so far in the face of the pandemic. The Group has also pledged to cut carbon to zero.