SEVERFIELD PLC — Earnings Release 2020

Jun 17, 2020

National Storage Mechanism | Additional information

RNS Number : 2678Q

Severfield PLC

17 June 2020

Strong FY results and poised for HS2 boost

Results for the FY to March showed a 16% rise in PBT, with little impact from Covid-19. Financial guidance remains suspended, due to immediate uncertainties, but we believe longer-term demand will be fuelled by infrastructure, particularly HS2 projects which the UK's leading structural steel group is bidding for, and logistics and data centres, boosted by the pandemic. The Group has a strong net cash balance and additional headroom and predicts sufficient cash for even its 'worst case scenario'.

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