Severfield PLC AGM Trading Update (9590I)
September 06 2016 - 1:00AM
UK Regulatory
TIDMSFR
RNS Number : 9590I
Severfield PLC
06 September 2016
6 September 2016
Severfield plc
("the Company" or "the Group")
AGM Trading Update
Severfield plc, the market leading structural steel group,
issues an update on current trading for its AGM
At the Company's Annual General Meeting, to be held today at
12.00 noon, Aldwark Manor Hotel, Aldwark, Alne, York YO61 1UF, the
Chairman, John Dodds, will make the following statement.
Current Trading
The Group's trading performance and financial position remain in
line with management expectations.
UK
The UK order book of GBP268m as at 31 August has remained at a
very strong level in the period following the EU referendum result
and continues to include work across a wide range of market sectors
and project sizes. Our pipeline of potential future orders has also
remained stable with a good balance of work across all key market
sectors.
India
With an order book of GBP37m the Indian business remains steady
and continues to generate an encouraging level of new opportunities
amid signs that economic optimism in the country is beginning to
increase.
Outlook
With its strong order book, continuing profit improvement
programme and our ability to work across a wide range of market
sectors, including infrastructure, the UK business is well placed
to continue to meet expectations. The Indian business continues to
perform steadily and is well placed to benefit from any improvement
in the Indian economy. Overall, the Group is on track to progress
as expected over the remainder of the financial year.
Half-Year Results
Severfield will announce its financial results for the half-year
ending 30 September 2016 on 22 November 2016.
For further information, please contact:
Ian Lawson
Chief Executive 01845 577
Severfield plc Officer 896
Alan Dunsmore 01845 577
Finance Director 896
Jefferies International 020 7029
Limited Simon Hardy 8000
020 7029
Harry Nicholas 8000
020 3772
Bell Pottinger Nick Lambert 2558
020 3772
Dan de Belder 2561
020 3772
Zara de Belder 2512
This information is provided by RNS
The company news service from the London Stock Exchange
END
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