{"id":2152583,"date":"2026-03-31T07:54:19","date_gmt":"2026-03-31T06:54:19","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/yorkshire\/?p=2152583"},"modified":"2026-03-31T07:54:19","modified_gmt":"2026-03-31T06:54:19","slug":"delayed-projects-and-tight-margins-temper-severfield%e2%80%99s-growth-outlook","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/yorkshire\/news\/2152583-delayed-projects-and-tight-margins-temper-severfield%e2%80%99s-growth-outlook","title":{"rendered":"Delayed projects and tight margins temper Severfield\u2019s growth outlook"},"content":{"rendered":"<p class=\"isselectedend\">Severfield has warned that a slower start to key projects and ongoing macroeconomic pressures will weigh on momentum into the next financial year.<\/p>\n<p class=\"isselectedend\">In a market update, the structural steel specialist said underlying profit before tax for the year to 28 March 2026 is expected to land in line with market expectations at \u00a310.2m.<\/p>\n<p class=\"isselectedend\">The group expects to close the year with net debt of around \u00a328m &#8211; significantly better than consensus forecasts of \u00a348.5m &#8211; leaving it with headroom of roughly \u00a339m on its facilities. This improved liquidity position comes as management continues to prioritise tighter working capital control in a more uncertain trading environment.<\/p>\n<p class=\"isselectedend\">The order book provides a mixed picture. In the UK and Europe, secured work stands at \u00a3438m, however several large projects have been pushed back, with start dates now skewed towards the second half of FY27.<\/p>\n<p class=\"isselectedend\">Across the group\u2019s Indian operations, the order book has climbed to a record \u00a3331m, supported by strong demand for higher-margin commercial projects. Output has also reached new highs, with approximately 125,000 tonnes delivered during the year, and expansion at the Gujarat facility progressing on schedule.<\/p>\n<p class=\"isselectedend\">However, the outlook remains clouded. Management pointed to persistent macroeconomic uncertainty, elevated interest rates and geopolitical instability as key factors dampening client confidence and delaying project awards- particularly in industrial, stadia and commercial sectors.<\/p>\n<p class=\"isselectedend\">Ongoing disruption linked to conflict in the Middle East continues to affect global supply chains and energy markets. While Severfield has limited direct exposure thanks to its pricing and hedging strategies, the company said that prolonged instability could impact project timelines and market conditions more widely.<\/p>\n<p class=\"isselectedend\">Against this backdrop, the board is guiding cautiously for FY27, expecting underlying profit before tax in the range of \u00a312m to \u00a315m. It said the forecast reflects both delayed project starts and continued pressure on pricing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The structural steel specialist said underlying profit before tax for the year to 28 March 2026 is expected to land in line with market expectations at \u00a310.2m<\/p>\n","protected":false},"author":271992,"featured_media":2143794,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53262,120781],"coauthors":[137100],"class_list":["post-2152583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-markets","tag-featured-story","tag-yorkshire"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Delayed projects and tight margins temper Severfield\u2019s growth outlook | TheBusinessDesk.com<\/title>\n<meta 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