Steel fabricator working on T5 increases turnover to £237m and achieves record order book of £210m.
Steel fabricator Severfield-Rowen has reported a 60% leap in profits for the year to 31 December 2005, in record results for the company.
Pre-tax profits rose from £12.2m to £19.7m over the year, with turnover rising 16% to £236.7m across the same period. The company, which is working on Heathrow Terminal 5, currently has a record order book of £210m.
Chairman Peter Levine said that the group expected further success in 2006. He said: "Severfield-Rowen has had a stunning year with results significantly ahead of market expectations. Our markets are buoyant and demand for structural steelwork projects continues to grow. 2006 has started strongly, continuing the forward moving momentum."
The firm has four core subsidiaries: Severfield Reeve, Watson Steel Structures, Rowen Structures and Atlas Ward Structures. Severfield Rowen acquired Atlas Ward for £1.42m in March last year.