Construction News

Thu March 28 2024

Related Information

Severfield reports 33% order book growth

16 Feb 16 Structural steelwork contractor Severfield has seen its UK order book grow by a third in just three months.

Severfield chief executive Ian Lawson
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.

Got a story? Email news@theconstructionindex.co.uk

MPU
MPU

Click here to view latest construction news »