Around 90% of booked work is in UK, firm adds
The country’s biggest steelwork contractor said a slew of wins including work on Everton’s new £500m stadium and more bridge packages for HS2 has sent its order book to a record level.
In a trading update this morning, Severfield said the number as of 1 September now stands at £376m, up from the £301m it reported at the beginning of June.
The firm, which posted a record turnover of £363m in the year to March, said 90% of its order book was for jobs in the UK.
Last month, main contractor Laing O’Rourke broke ground on the new 53,000 seat home of the Toffees at Bramley-Moore Dock in Liverpool with Severfield expected to move on site next year.
It has also won more work for Highways England, now called National Highways, and Network Rail.
Severfield said its India joint venture business, which is called JSSL, would break even in the first half after being impacted by the second wave of covid-19 which tore through the country earlier this year.
It said its current order book at the business was £135m, slightly down on the £140m it reported on 1 June.
Severfield is due to announce its interim results on 23 November. In its last set of annual results, the firm said pre-tax profit slipped 18% to just over £21m.