SFR Severfield Plc

TIDMSFR

RNS Number : 9590I

Severfield PLC

06 September 2016

6 September 2016

Severfield plc

("the Company" or "the Group")

AGM Trading Update

Severfield plc, the market leading structural steel group,

issues an update on current trading for its AGM

At the Company's Annual General Meeting, to be held today at 12.00 noon, Aldwark Manor Hotel, Aldwark, Alne, York YO61 1UF, the Chairman, John Dodds, will make the following statement.

Current Trading

The Group's trading performance and financial position remain in line with management expectations.

UK

The UK order book of GBP268m as at 31 August has remained at a very strong level in the period following the EU referendum result and continues to include work across a wide range of market sectors and project sizes. Our pipeline of potential future orders has also remained stable with a good balance of work across all key market sectors.

India

With an order book of GBP37m the Indian business remains steady and continues to generate an encouraging level of new opportunities amid signs that economic optimism in the country is beginning to increase.

Outlook

With its strong order book, continuing profit improvement programme and our ability to work across a wide range of market sectors, including infrastructure, the UK business is well placed to continue to meet expectations. The Indian business continues to perform steadily and is well placed to benefit from any improvement in the Indian economy. Overall, the Group is on track to progress as expected over the remainder of the financial year.

Half-Year Results

Severfield will announce its financial results for the half-year ending 30 September 2016 on 22 November 2016.

For further information, please contact:

 
                            Ian Lawson 
                             Chief Executive     01845 577 
 Severfield plc              Officer              896 
  Alan Dunsmore                                  01845 577 
   Finance Director                               896 
 Jefferies International                         020 7029 
  Limited                   Simon Hardy           8000 
                                                 020 7029 
  Harry Nicholas                                  8000 
                                                 020 3772 
 Bell Pottinger             Nick Lambert          2558 
                                                 020 3772 
  Dan de Belder                                   2561 
                                                 020 3772 
  Zara de Belder                                  2512 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 06, 2016 02:00 ET (06:00 GMT)

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