Orders leap a third in three months for structural steel specialist
Severfield has seen its order book increase by 33% in the last three months on the back of several new contracts wins.
The structural steel specialist reported in a trading update that its order book has hit 拢246m, up from 拢185m last November, after 鈥渟ignificant鈥� contract awards.
However, the group warned on 鈥渟lippage in potential timescales鈥� as clients continue to be cautious about overall project costs and forecasts.
Severfield, led by chief executive Ian Lawson (pictured), said the UK market continued to provide a 鈥済ood level鈥� of opportunities and forecasted a 鈥渞elatively stable environment鈥� with continued growth in revenue and margins.
It added that operating margins were also seeing 鈥渋mprovement鈥� primarily due to the group鈥檚 operational improvement programme.
The group鈥檚 Indian business, JSW Severfield Structures Ltd (India), continued to perform 鈥渟atisfactorily鈥� with its order book increasing by 11% to 拢39m, up from 拢35m on 1 November 2015.
The market in India though remains 鈥渃hallenging,鈥� Severfield said, adding that it sees 鈥渓imited鈥� opportunities for margin improvement at this time.
No comments yet