StockMarketWire.com - Steel scaffolding provider Severfield said it had made a bright start to its financial year, though its annual profit would be weighted to the second-half.

Severfield said trading in the first five months of its financial year through March had continued to be 'positive' and in line with its expectations.

'The group's financial position remains good, albeit the recent steel and other input price rises are impacting working capital in the short term, and the outlook for the year ending 31 March 2022 is unchanged,' it said.

The profit weighting for the first half to the second was expected to be around one third to two thirds, with several ongoing contracts expected to deliver higher profits in the second half, Severfield said.


Story provided by StockMarketWire.com