Steelwork contractor in ‘transitional year’
Severfield said its underlying profit expectations for the year to March 2027 remain unchanged after a ‘positive start’ to the year.
The steelworks contractor said it is expecting underlying profit before tax, excluding one-off items, to be between £12m and £15m as previously indicated.
The firm said its order book stood at £534m as of 1 July, up from £507m the previous year.
It said: “The group has continued to build momentum in its UK and Europe operations, securing a number of significant project wins, principally in the data centre sector in the UK, Germany and Sweden.”
The firm’s underlying profit before tax last year was £10.5m. However it made a statutory pre-tax loss of £40m as it was impacted by ongoing bridge repairs and the cost of closing its modular business.
The group has said this year remains a “transition” period, with first half profit figures reflecting lower-margin work the profit from “larger higher-quality” projects being recognised in the following year.
The group will announce its financial results for the six months ending 26 September 2026 on 24 November 2026.
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