TIDMSFR

Severfield PLC

20 April 2022

 
Orders surge as nuclear market reopens 
 
 Severfield, Britain's leading structural steel specialist, has confirmed that it expects FY2022E 
 results in line with its previous expectations. We are maintaining our profit estimates for 
 FY2022E-24E but raise our revenues to reflect steel cost increases, which are passed onto 
 customers. The outlook is underpinned by record orders, amid "significant opportunities" including 
 'giga-factories', data centres and nuclear. The UK's 7 April Energy Security Strategy, prompted 
 by Russia's invasion of Ukraine, puts new nuclear at the heart of plans to reduce dependence 
 on foreign energy. We believe this and wider green and economic security issues should support 
 long-term growth.

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NRAPPUAWCUPPURU

(END) Dow Jones Newswires

April 20, 2022 04:38 ET (08:38 GMT)

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