Business
Results for the year ended 31 March 2018
Results for the year ended 31 March 2018.
About this update from Severfield Plc
[{"type":"text","content":"\n \nRNS Number : 9186R Severfield PLC 20 June 2018 \n\n \n \n20 June 2018\nResults for the year ended 31 March 2018\n \nAnother year of improved performance with a 19% increase in underlying profit before tax, a 13% increase in core dividend and a special dividend of 1.7p per share\nSeverfield plc, the market leading structural steel group, announces its results for the 12 month period ended 31 March 2018.\nHighlights\n \n\nRevenue up 5% to £274.2m (2017: £262.2m)\nUnderlying* profit before tax up 19% to £23.5m (2017: £19.8m)\nUnderlying basic earnings per share up 15% at 6.4p per share (2017: 5.5p per share)\nContinued strong cash performance resulting in year-end net funds of £33.0m (2017: £32.6m) after equity investment of £5.5m in Indian joint venture to repay term debt\nTotal dividend increased by 13% to 2.6p per share (2017: 2.3p per share), includes proposed final dividend of 1.7p per share (2017: 1.6p per share)\nProposed special dividend of 1.7p per share to deliver a total cash return to shareholders of 4.3p per share\nReturn on capital employed ('ROCE') of 16.5% (2017: 14.6%)\nOver 100 projects undertaken during the year in key market sectors including the new stadium for Tottenham Hotspur FC, the retractable roof for Wimbledon No.1 Court and a new commercial tower at 22 Bishopsgate\nUK order book of £237m at 1 June 2018 (1 November 2017: £245m), including landmark contract for the new Google Headquarters at Kings Cross for 2019\nReorganisation of our factory operations in North Yorkshire now completed\nContinued profitability from Indian joint venture of £0.5m (2017: £0.2m), improving market position now reflected in India order book of £106m at 1 June 2018 (1 November 2017: £79m)\n\n \n\n\n\n\n£m\n\n\n \n\n\n12 months to\n31 March 2018\n\n\n12 months to\n31 March 2017\n\n\n\n\nRevenue\n\n\n \n\n\n274.2\n\n\n262.2\n\n\n\n\nUnderlying* operating profit\n(before JVs and associates)\n\n\n \n\n\n22.9\n\n\n19.6\n\n\n\n\nUnderlying* operating margin \n(before JVs and associates)\n\n\n \n\n\n8.3%\n\n\n7.5%\n\n\n\n\nOperating profit (before JVs and associates)\n\n\n \n\n\n21.5\n\n\n17.8\n\n\n\n\nUnderlying* profit before tax\n\n\n \n\n\n23.5\n\n\n19.8\n\n\n\n\nProfit before tax\n\n\n \n\n\n22.2\n\n\n18.1\n\n\n\n\nUnderlying* basic earnings per share\n\n\n&nbs...