Business
Interim Management Statement
Interim Management Statement.
About this update from Severfield Plc
[{"type":"text","content":"\n \nRNS Number : 8389O Severfield PLC 12 August 2014 \n\n \n \n \n12 August 2014\n \nInterim Management Statement\n \nSeverfield plc, the market leading structural steel group, issues its Interim Management Statement covering the period to 11th August 2014.\n \nCurrent trading\n \nThe Group's performance and underlying financial position are satisfactory and together with a solid order book the Group remains on track for this financial year. The Group has also benefited from the sale of its investment property in June for £3.9m, which was in line with book value.\n \nUK\n \nThe UK order book of £171m remains solid and the business continues to show improved stability following the reorganisation in the last financial year. Management's view of the market is unchanged, with continuing signs of improvement, but it remains likely to be later in the financial year before there is any notable impact on the size or mix of the order book.\n \nJSW Severfield Structures Ltd (India)\n \nThe business is showing the intended improvement in operational performance for the year to date, with cost savings and improvements in production output both being evident. The order book stands at £34m. The business development programme and improving the conversion of opportunities still remain priorities.\n \nOutlook\n \nThe UK business continues to progress well and India is showing encouraging operational improvements with market development remaining an area of high focus. Overall, the Group continues to be ideally positioned for recovery in the UK construction market with its good market position and strong balance sheet.\n\n\n \nFor further information, please contact:\n \n\n\n\n\nSeverfield plc\n\n\nIan Lawson\nChief Executive Officer\n \n\n\n01845 577896 \n\n\n\n\n\n\n\nAlan Dunsmore \nFinance Director \n \n\n\n01845 577896 \n\n\n\n\nJefferies International Limited \n\n\nSimon Hardy \n\n\n020 7029 8000 \n\n\n\n\n\n\n\nHarry Nicholas\n \n\n\n020 7029 8000\n\n\n\n\nBell Pottinger \n\n\nGavin Davis\n\n\n020 7861 3159\n\n\n\n\n\n\n\nWill Bland\n\n\n020 7861 3139\n\n\n\n\n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END IMSQKDDNABKDOFD\n ","length":4907,"tagName...