TIDMSFR

Severfield PLC

21 November 2023

 
 
  Guidance reiterated after H1 profits increase 
  Severfield has reiterated its FY24E guidance after delivering a 17% increase in underlying 
  PBT despite 'challenging' market conditions. We retain our profitability and cash flow estimates 
  for FY24E and FY25E, with higher margin assumptions offsetting lower revenue projections. 
  In our view, the long-term outlook continues to be underpinned by new markets, such as datacentres 
  and nuclear work - plus a recent revival in London office work - with further growth likely 
  from the group's expansion in the EU and India.

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November 21, 2023 03:02 ET (08:02 GMT)

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