StockMarketWire.com - Structural steel group Severfield said its trading performance continued to be in line with its upwardly revised expectations amid a shrinking Indian order book.

The UK order book at 1 April was £242m, remaining 'solid' since 1 November, when it was worth £245m, the company said. 'Our pipeline of potential future orders has remained stable with a good balance of work across all key market sectors,' it added.

The Indian order book of £65m at 1 April was lower than £79m at 1 November and contained 'an appropriate mix of commercial work and lower margin industrial work', Severfield said.

The Indian business continued to perform well in the second half, reflecting 'good' operational performance, coupled with lower financing costs, it added.


At 1:17pm: [LON:SFR] Severfield share price was +0.6p at 74.1p



Story provided by StockMarketWire.com