Structural steel group Severfield has revealed \u00a0a sharp fall in profits as tough market conditions and lower volumes hit the structural steel specialist, but the company insists it remains on track for the full year and well-positioned for future growth.<\/p>\n
For the six months to 27 September 2025, the Thirsk-based group posted revenue of \u00a3206m, down 18% on the previous year. Underlying profit before tax plunged to \u00a30.6m from \u00a316.1m, while pre-tax losses widened to from \u00a35.8m \u00a37.6m.<\/p>\n
Despite the weaker performance, Severfield reduced its net debt to \u00a321.7m from \u00a343.1m at the end of March, aided by \u00a320m of insurance proceeds for bridge remedial works. The UK and Europe order book remains robust at \u00a3429m, with \u00a3324m scheduled for delivery over the next 12 months.<\/p>\n
NCEO Paul McNerney – who joined the business at what he describes as \u201ca pivotal time in its journey\u201d – said the results reflect a subdued structural steel market but stressed that the company\u2019s long-term fundamentals remain strong.<\/p>\n
\u201cI am delighted to have joined Severfield at a pivotal time in its journey,\u201d he said. \u201cThe group has a proud heritage, strong values and deep technical capability, underpinned by resilient core operations across a diversified range of market sectors.\u201d<\/p>\n
He added that early engagement with customers had reinforced the company\u2019s market reputation. \u201cIt has been encouraging to hear such strong support for Severfield and the confidence they have in our expertise and delivery.\u201d<\/p>\n
McNerney has launched a strategic review of Severfield\u2019s markets, operations and organisational structure, with findings to be presented in 2026. He said the focus now is on sharpening the group\u2019s operational performance: \u201cI am focused on redefining our strategy, strengthening our manufacturing and delivery capabilities, driving greater efficiency, and on bringing an absolute focus on engineering excellence for our customers.\u201d<\/p>\n
The company continues to see encouraging activity in distribution and data centre markets, along with longer-term opportunities in energy and infrastructure. Its Indian joint venture, JSSL, reported record orders of \u00a3286m and expects new production facilities in Gujarat to be operational in FY26.<\/p>\n
With second-half revenue visibility strong and the order book supported by diversification, Severfield says expectations for FY26 remain unchanged.<\/p>\n","protected":false},"excerpt":{"rendered":"
Structural steel group Severfield has revealed \u00a0a sharp fall in profits as tough market conditions and lower volumes hit the structural steel specialist, but the…<\/p>\n","protected":false},"author":271992,"featured_media":2141714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53262],"coauthors":[137100],"class_list":["post-2147308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-featured-story","tag-yorkshire"],"yoast_head":"\n