Severfield reports strong order book of £315m

Shares of Thirsk, North Yorkshire-based steel group Severfield rose about 6% on Thursday after it published a trading update for the year ended March 31, 2021, saying it expects to “deliver a full year result which is comfortably above management’s previous expectations.”

The company said: “We continue to regularly win high-quality work resulting a strong order book of £315m, which supports trading throughout the 2022 financial year and beyond.

“We have an encouraging pipeline of opportunities in the UK, Europe and India, a strong balance sheet position, expertise in managing complex projects and good long-standing client relationships.

“This leaves us well-placed to win work in the diverse range of market sectors and geographies in which we operate and across a wide client base, providing us with extra resilience and the ability to increase our market share in the future.”