The structural steel group's share price jumps as it reveals pre-tax profit will exceed expectations

Shares in Severfield-Rowan rose nearly 10% today as the structural steel group said its financial performance was well above market expectations.

In a trading statement the group said profit before tax would be “materially ahead of current market expectations” for the year ending 31 December 2006.

Strong demand for its services means it is confident about its prospects for 2007.

Severfield-Rowan’s shares were up 9.7% to 1580p per share at 10.35am this morning.