StockMarketWire.com - Structural steel specialist Severfield said it still expected its results for the full year to be significantly weighted to the second half.

A number of large ongoing contracts were expected to deliver profits in the six months through March, 2020.

'The group's trading performance and financial position remains in line with management expectations and the outlook for the year ending 31 March 2020 remains unchanged,' the company said.

In the UK and Europe, Severfield said its order book at 1 September was £301m, up from £295m at the start of June.

'In general, our pipeline of potential future orders has remained stable with a good balance of work across all key market sectors,' it said.

'Both the quality of the order book and the strength of the pipeline are consistent with our continued progress towards our strategic targets.'

In India, Severfield said it was seeing clear signs of a conversion from concrete to steel -- a position evident in JSSL's order book of £134m at 1 September, unchanged from £134m at the start of June.


At 8:17am: [LON:SFR] Severfield share price was +1.3p at 63.3p



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