Business
AGM Statement
AGM Statement.
About this update from Severfield Plc
[{"type":"text","content":"\n \nRNS Number : 8792P Severfield PLC 06 September 2017 \n\n6 September 2017\nSeverfield plc\n('the Company' or 'the Group')\nAGM trading update\n \n \nAt the Company's Annual General Meeting, to be held today at 12.00 noon, Aldwark Manor Hotel, Aldwark, Alne, York YO61 1UF, the Chairman, John Dodds, will make the following statement.\n \nCurrent trading and outlook\nThe Group's trading performance and financial position remains in line with management expectations and the outlook for the year ending 31 March 2018 remains unchanged. As a result of the current phasing of contract works, the results for the full year are expected to be more first half weighted than in the prior year.\n \nUK\nThe UK order book of £221m as at 1 September (1 June: £229m) remains healthy with a good mix of projects, and is in line with our normal order book levels which typically equate to eight to ten months of annualised revenue. Both the quality of the order book and the strength of the UK pipeline are consistent with our continued progress towards our strategic targets.\n \nIndia\nOperational performance remains good and the repayment of the joint venture's term debt in June 2017 will benefit current year profitability. With an order book of £64m at 1 September (1 June: £73m) and an encouraging level of new opportunities, the Indian business is well positioned to take advantage of an improving local economy.\n \nHalf year results\nThe Group will announce its financial results for the half year ending 30 September 2017 on 21 November 2017.\n \n \nFor further information, please contact:\n \n \n\n\n\n\nSeverfield plc\n\n\nAlan Dunsmore\n\n\n01845 577 896\n\n\n\n\n \n\n\nActing Chief Executive Officer\n \n\n\n \n\n\n\n\n \n\n\nAdam Semple\n\n\n01845 577 896\n\n\n\n\n \n\n\nActing Group Finance Director\n \n\n\n \n\n\n\n\nJefferies International Limited\n\n\nSimon Hardy\n\n\n020 7029 8000\n\n\n\n\n \n\n\nWill Soutar\n \n\n\n020 7029 8000\n\n\n\n\nBell Pottinger\n\n\nDan de Belder\n\n\n020 3772 2561\n\n\n\n\n \n\n\nZara de Belder\n\n\n020 3772 2512\n\n\n\n\n \n  ...