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News » UK » Severfield reports 33% order book growth » published 16 Feb 2016

Severfield reports 33% order book growth

Structural steelwork contractor Severfield has seen its UK order book grow by a third in just three months.

Severfield chief executive Ian Lawson Above: Severfield chief executive Ian Lawson

Some significant contract awards have boosted Severfield’s UK order book from £185m at the start of November 2015 to £246m at the start of this month – a 33% increase.

Concern about projects getting stalled remainsa concern. “The market continues to present a good level of opportunities although as indicated in November's interim results, slippage in potential timescales still remains a risk as clients scrutinise forecast overall project costs with caution,” the company said in a trading update.

Despite this, with Severfield having cut its overhead costs in recent years, profits are growing even more strongly than revenues, it said.

 

 

MPU

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This article was published on 16 Feb 2016 (last updated on 16 Feb 2016).

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