In Brief: VP; Severfield-Rowen; ICW; Sewell Group

EQUIPMENT hire specialist VP today said the business continues to deliver solid year on year revenue growth.

In an update on the performance of the business since the announcement of its interim results in November, the Harrogate-based group, which has six operations, said it has continued to trade in line with expectations through the winter period supported by a steadily improving UK economy. It said demand from infrastructure and housebuilding has remained strong, while general construction is showing some early signs of improvement.

Prospects within the oil and gas sector are steadily improving with a number of new contracts set to commence in the coming months, according to the group, and the board said it expects to report full year profits in line with market expectations.

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STRUCTURAL steel group Severfield-Rowen said this morning that it is ideally positioned for recovery in the UK construction market.

In its interim management statement, covering the period to February 13, the North Yorkshire headquartered firm said its trading performance and financial position for the year continues to be in line with management expectations.
 
The business said its UK order book of £172m remains stable and at a level with which management is comfortable, as the UK market continues to show signs of improvement, particularly evident in the pipeline of potential orders the business is seeing. However, the group, which also operates JSW Severfield Structures in India, said the Indian market continues to be difficult and is likely to remain so at least until after the forthcoming elections in May 2014.
 
The group said: “The UK business continues to strengthen and perform in line with management’s expectations. While India remains challenging, senior management is focused on improving the situation both commercially and operationally. Overall, the group is ideally positioned for recovery in the UK construction market, with its improving operations, good market share and strong balance sheet.”

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THE team at glazing company ICW (UK) got their skates on to deliver a major contract for the Sochi Olympics.

Wakefield-based ICW was asked by a major food company to make windows for an exhibition centre which will showcase at the 2014 Winter Olympics.

Chairman, Margaret Wood, said: “It is our 21st anniversary this year, so to be commissioned by one of the world’s leading food groups to make products for the top winter sports event in the calendar is very special.”

ICW was founded in 1993 by Margaret Wood MBE. The firm designs glazed units for manufacturing, commercial, corporate and leisure customers and exports around the world.

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THE Sewell Group has been given the stamp of approval for its project delivery of schemes delivered as part of the NHS Local Improvement Finance Trust Programme and the Building Schools for the Future Programmes, between 2008 and 2013.

Hull-based Sewell has delivered ‘construction project excellence’ according to research carried out by the Hull University Business School.

The independent research, carried out by professor Terry Williams PhD PMP, dean of Hull University Business School, aimed to analyse whether the projects delivered for the health and secondary education estates across the city where generally regarded as successful due to ‘feel good’ created from significant regeneration investment, or if Sewell had in fact delivered ‘project excellence’.

Professor Williams said: “For 20 years I have had a mission to understand how projects behave, how we can learn lessons from projects and how we can manage them better. With the coming to an end of the Government BSF and LIFT programmes, it was clear that Sewell had performed well in their projects in Hull and the areas well exceeding the industry norm in outcomes. We wanted to understand why that was so we could all do better in our projects in the future.”