Severfield reports 33% order book growth
Structural steelwork contractor Severfield has seen its UK order book grow by a third in just three months.
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.
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This article was published on 16 Feb 2016 (last updated on 16 Feb 2016).