Business
Results for the Year Ended 31 March 2021
Results for the Year Ended 31 March 2021.
About this update from Severfield Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0188C\n Severfield PLC\n 16 June 2021\n \n \n \n \n 16 June 2021\n \n \n \n \n Results for the year ended 31 March 2021\n \n \n Resilient performance despite COVID-19, good cash generation and strong balance sheet, UK and Europe order book of £301m, India order book of £140m\n \n \n \n Severfield plc, the market leading structural steel group, announces its results for the 12-month period ended 31 March 2021.\n \n \n \n \n \n \n £m\n \n \n \n \n \n \n \n 12 months to\n \n \n 31 March 2021\n \n \n \n \n 12 months to\n \n \n 31 March 2020\n \n \n \n \n \n \n Revenue\n \n \n \n \n \n \n \n 363.3\n \n \n \n \n 327.4\n \n \n \n \n \n \n Underlying* operating profit\n \n \n (before JVs and associates)\n \n \n \n \n \n \n \n 25.5\n \n \n \n \n 27.0\n \n \n \n \n \n \n Underlying* operating margin \n \n \n (before JVs and associates)\n \n \n \n \n \n \n \n 7.0%\n \n \n \n \n 8.2%\n \n \n \n \n \n \n Operating profit (before JVs and associates)\n \n \n \n \n \n \n \n 22.7\n \n \n \n \n 24.7\n \n \n \n \n \n \n Underlying* profit before tax\n \n \n \n \n \n \n \n 24.3\n \n \n \n \n 28.6\n \n \n \n \n \n \n Profit before tax\n \n \n \n \n \n \n \n 21.1\n \n \n \n \n 25.8\n \n \n \n \n \n \n Underlying* basic earnings per share\n \n \n \n \n \n \n \n 6.4p\n \n \n \n \n 7.7p\n \n \n \n \n \n \n Basic earnings per share\n \n \n \n \n \n \n \n 5.6p\n \n \n \n \n 6.7p\n \n \n \n \n \n \n Return on capital employed ('ROCE')\n \n \n \n \n \n \n \n 13.6%\n \n \n \n \n 17.2%\n \n \n \n \n \n \n * Underlying results are stated before non-underlying items of £3.2m (2020: £2.8m) consisting of the amortisation of acquired intangible assets of £2.8m (2020: £1.4m) and acquisition-related expenses of £0.4m (2020: £1.4m)\n \n \n ** The Group excludes IFRS 16 lease liabilities from its measure of net funds / debt as they are excluded from the definition of net debt as set out in the Group's borrowing facilities\n \n \n \n Highlights\n \n \n \n Revenue up 11% to £363.3m (2020: £327.4m)\n \n \n Underlying* profit before tax of £24.3m (2020: £28.6m), demonstrates resilience of the Group against COVID-19 backdrop\n \n \n Underlying* basic earnings per share of 6.4p (2020: 7.7p)\n \n \n Total dividend of 2.9p per share (2020: 2.9p per share), includ...