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SEVERFIELD PLC Earnings Release 2024
4741_er_2023-11-21_5358f6e2-4450-4928-a0a6-68cd467d7a68.html
Earnings Release
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National Storage Mechanism | Additional information 
RNS Number : 1307U
Severfield PLC
21 November 2023
Guidance reiterated after H1 profits increase
Severfield has reiterated its FY24E guidance after delivering a 17% increase in underlying PBT despite 'challenging' market conditions. We retain our profitability and cash flow estimates for FY24E and FY25E, with higher margin assumptions offsetting lower revenue projections. In our view, the long-term outlook continues to be underpinned by new markets, such as datacentres and nuclear work - plus a recent revival in London office work - with further growth likely from the group's expansion in the EU and India.
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