Business
Interim Results
Severfield plc reported interim results for the six months ended 27 September 2025, with revenue down 18% to £206.0 million and underlying profit before tax falling to £0.6 million from £16.1 million in the prior year, primarily due to lower volumes and challenging market conditions. The company has reduced its net debt to £21.7 million and secured £20.0 million in insurance proceeds for bridge remedial works. The order book stands at £429 million, with £324 million for delivery within the next twelve months, and management maintains unchanged expectations for FY26, citing positive long-term growth trends in its markets. Disclaimer*
About this update from Severfield Plc
[{"type":"text","content":"\n\n2 December 2025\nInterim results for the period ended 27 September 2025\nDiversified order books support unchanged expectations for FY26, improved net debt position, well-positioned in markets with positive long-term growth trends\nSeverfield plc, the market-leading structural steel group, announces its results for the six-month period ended 27 September 2025.\n\n\n\n\n£m\n\n\nH1 2026\n(unaudited)\n\n\nH1 2025\n(unaudited)\n\n\nChange\n\n\n\n\nRevenue\n\n\n206.0\n\n\n252.3\n\n\n-18%\n\n\n\n\nUnderlying1 operating profit (before JVs and associates)\n\n\n2.3\n\n\n17.2\n\n\n-87%\n\n\n\n\nOperating loss (before JVs and associates)\n\n\n(5.9)\n\n\n(4.6)\n\n\n(1.3)\n\n\n\n\nUnderlying1 profit before tax\n\n\n0.6\n\n\n16.1\n\n\n-96%\n\n\n\n\nLoss before tax\n\n\n(7.6)\n\n\n(5.8)\n\n\n(1.8)\n\n\n\n\nUnderlying1 basic earnings per share\n\n\n0.2p\n\n\n4.0p\n\n\n(3.8p)\n\n\n\n\nBasic loss per share\n\n\n(1.9p)\n\n\n(1.4p)\n\n\n(0.5p)\n\n\n\n\nInterim dividend per share\n\n\n-\n\n\n1.4p\n\n\n(1.4p)\n\n\n\n\nHeadlines\n§ Diversified UK and Europe order book of £429m at 1 November (1 July: £444m), of which £324m is for delivery over the next 12 months\n§ Underlying1 profit before tax of £0.6m (H1 2025: £16.1m) reflects lower volumes and challenging market conditions\n§ Reduction in period-end net debt (on a pre-IFRS 16 basis2) to £21.7m (29 March 2025: £43.1m), includes amortising term loans of £13.8m\n§ Bridge remedial works programme progressing in line with expectations; receipt of £20.0m insurance proceeds\n§ Improved H1 results and continued strategic progress in India - record JSSL order book of £286m at 1 November (1 July: £240m), new production facilities in Gujarat expected to be operational in FY26\n§ Revolving credit facility extended to December 2027, alongside share purchase option agreement with JSW Steel, provides enhanced liquidity and financial flexibility\n§ New executive management team to drive future growth\nOutlook\n§ UK and Europe:\n- Market for structural steelwork remains subdued and competitive bidding environment continues to drive tighter prices\n- Tendering activity is improving, principally in the distribution and data centre sectors\n- We continue to see some attractive large-scale projects coming to market...