Structural steel group performing to par
STRUCTURAL steel group Severfield, which employs about 400 people in Bolton, says its trading performance for the current financial year is in line with management expectations.
The company has a UK order book of £246m – up from £185m at November 1 2015, reflecting “some significant recent contract awards” from its “pipeline of opportunities”.
The company which has worked on football stadia says its is benefiting from internal efficiency arising from the group’s operational improvement programme.
The Indian market environment remains somewhat challenging but the business continues to perform satisfactorily.
The order book of £39m (November 1 2015: £35m) is stable and while production volumes remain steady, the opportunity for margin improvement in the current climate is limited.
“The UK business continues its good progress in a relatively stable environment and the current order book will enable continued growth in both revenue and margins,” the Dalton, Yorkshire-based company said in a statement.
“The Indian business remains steady despite a mixed economic backdrop. Overall, the group is on track to meet management expectations for the year.”
Severfield has carried out work on many high profile projects in the UK. These include the Armadillo building in Glasgow, Arsenal’s Emirates Stadium, the sliding roof at Wimbledon, Manchester United’s Old Trafford ground and Manchester City’s Etihad Stadium, as well as the Macron Stadium at Bolton Wanderers.