Severfield PLC Progressive publish new research
June 19 2024 - 2:06AM
RNS Non-Regulatory
RNS Number : 0240T
Severfield PLC
19 June 2024
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Profit and dividend 'beat' fuelled by Europe
Severfield has delivered underlying
profits and dividend for FY24 ahead of our expectations, along with
lower-than-expected net debt, 'due to strong operational delivery'
despite softer market conditions. The group expects a result for
FY25E in line with its expectations. We are slightly ahead of
consensus and conservatively trim our adjusted PBT by 4.8%, but
introduce forecasts for FY26E with 11% adjusted PBT growth, driven
by accelerating demand in the UK and Europe for data centres,
battery plants and power.
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