Severfield interim results pushed back a week

New Severfield boss Paul McNerney starts today with the firm saying its interim results have been pushed back into next month.

McNerney was announced as chief executive at the country’s biggest steelwork contractor in the middle of August, having spent more than 25 years at Laing O’Rourke. He has replaced Alan Dunsmore who left in June after 15 years at the business.

The firm had previously said its half year results for the six months to 27 September would be out on 25 November but these have been switched to 2 December.

Over the summer, the firm said it estimated the cost of carrying out repairs on several bridges, which centre on welding defects, will be £43.4m although insurance recoveries of £20m, due to be received in the first half of the current financial year, will bring the hit down to £23.4m.