- Severfield upgraded its annual profit guidance after revenues and profits jumped in the first half.

Underlying profit before tax rose 59% to £12.9m, as revenue increased 16% to £137.1m.

The construction group declared an interim dividend of 0.9p per share, up from 0.7%.

"I am delighted to be reporting a strong set of results for the half year, which reflects the group's continued delivery against our strategic targets, improved margins and strong cash generation," acting chief executive Alan Dunsmore said.

"Building on this performance, we now expect that our full-year results will be comfortably ahead of our previous expectations."

At 9:05am: [LON:SFR] Severfield share price was +6.25p at 70.75p

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