Steel specialist says it has not been impacted by the Brexit vote so far

Severfield has said it is unaffected by the Brexit vote so far, with trading remaining in line with expectations prior to the referendum.

Today’s trading statement from the steel specialist - which is exposed to a new-build commercial market that has seen some cooling in recent weeks - will likely help give reassurance to the market.

Severfield said its UK order book stood at £268m at the end of August and had remained “at a very strong level in the period following the EU referendum result”.

The firm added: “Our pipeline of potential future orders has also remained stable with a good balance of work across all key market sectors.

“With its strong order book, continuing profit improvement programme and our ability to work across a wide range of market sectors, including infrastructure, the UK business is well placed to continue to meet expectations.”

Meanwhile, trading in the firm’s Indian business “remains steady”, with a £37m order book.