Business
Trading Statement
Trading Statement.
About this update from Severfield Plc
[{"type":"text","content":"\n \n \n \n 27 March 2023\n \n \n \n \n \n \n \n \n \n Severfield plc\n \n \n \n \n ('the Company' or 'the Group')\n \n \n \n \n Trading Update and Capital Markets Event\n \n \n \n \n \n \n \n \n Severfield plc, the market-leading structural steel group, today issues the following trading update for the year ended 25 March 2023, ahead of holding its Capital Markets Event for analysts and shareholders later today and the announcement of its annual financial results on Wednesday 14 June.\n \n \n \n \n \n \n FY23 results\n \n \n \n The Group is pleased to report that performance in the second half of the 2023 financial year has been strong and we expect to deliver a full year result in line with our previous expectations.\n \n \n \n \n \n \n Operational and trading update\n \n \n \n \n UK and Europe\n \n \n \n In the second half of the year, we continued to secure a significant value of high-quality work, resulting in a record UK and Europe order book of £508m at 1 March 2023 (1 November 2022: £464m), of which £391m is for delivery over the next 12 months. The order book remains well-diversified and contains a healthy mix of projects across the Group's key market sectors. In terms of geographical spread, 93 per cent of the order book represents projects in the UK, with the remaining 7 per cent representing projects for delivery in Europe and the Republic of Ireland.\n \n \n \n \n \n We are encouraged by the current level of tendering and pipeline activity across the Group, seeing a consistently high level of opportunities both in the UK and in continental Europe, as many of our chosen markets continue to have a favourable outlook. In our Commercial and Industrial division, we remain well positioned to take advantage of many opportunities, including battery plants, data centres, TV and film studios, commercial offices and stadia and leisure projects. In our Nuclear and Infrastructure division, we are also seeing a healthy pipeline of opportunities including in the nuclear sector, where we have recently been selected as one of two 'key delivery partners' to deliver structural steelwork at Sellafield as part of the long-term Programme and Project Partners framework.\n \n \n \n \n \n \n India\n \n \n \n The Indian joint venture ('JSSL') has performed in line with expectations in the second half of th...