Business
Trading Update
Trading Update.
About this update from Severfield Plc
[{"type":"text","content":"\n \nRNS Number : 1268P Severfield PLC 16 February 2016 \n\n 16 February 2016\nSeverfield plc\n(\"the Company\" or \"the Group\")\nTrading Update\n \nSeverfield plc, the market leading structural steel group, announces an update on trading for the current financial year as at 15 February 2016.\nCurrent trading\nThe Group's trading performance and financial position for the year continue to be in line with management expectations.\n\nUK\n\nThe UK order book of £246m (1 November 2015: £185m) reflects some significant recent contract awards from our pipeline of opportunities. Operating margin improvement is also continuing in line with management expectations, primarily from the internal efficiency benefits arising from the Group's operational improvement programme.\nThe market continues to present a good level of opportunities although as indicated in November's interim results, slippage in potential timescales still remains a risk as clients scrutinise forecast overall project costs with caution.\n\nJSW Severfield Structures Ltd (India)\nThe Indian market environment remains somewhat challenging but the business continues to perform satisfactorily in this climate. The order book of £39m (1 November 2015: £35m) is stable and while production volumes remain steady, the opportunity for margin improvement in the current climate is limited.\n\nOutlook\n\nThe UK business continues its good progress in a relatively stable environment and the current order book will enable continued growth in both revenue and margins. The Indian business remains steady despite a mixed economic backdrop. Overall, the group is on track to meet management expectations for the year.\n\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\nNick Lambert\n\n\n020 3772 2558\n\n\n\n\n \n\n\nDan de Belder\n\n\n020 3772 2561\n\n\n\n\n \n\n\nZara de Belder\n\n\n020 3772 2512\n\n\n\n\n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange&nb...