AI assistant
SEVERFIELD PLC Earnings Release 2024
4741_er_2024-06-19_29e19421-ffb5-464e-83d0-063d7a86ea23.html
Earnings Release
Open in viewerOpens in your device viewer
National Storage Mechanism | Additional information 
RNS Number : 0240T
Severfield PLC
19 June 2024
Profit and dividend 'beat' fuelled by Europe
Severfield has delivered underlying profits and dividend for FY24 ahead of our expectations, along with lower-than-expected net debt, 'due to strong operational delivery' despite softer market conditions. The group expects a result for FY25E in line with its expectations. We are slightly ahead of consensus and conservatively trim our adjusted PBT by 4.8%, but introduce forecasts for FY26E with 11% adjusted PBT growth, driven by accelerating demand in the UK and Europe for data centres, battery plants and power.
Subscribe to Progressive's research, which is freely available to every type of investor, and be kept informed about our regular programme of investor engagement.
About Progressive:
Progressive is an equity research and investor engagement company. FCA authorised and regulated, the firm has a 15-strong team of highly experienced analysts. We provide Institutional grade research and connect companies with investors across every sector of the market.
| Broad coverage | Analyst calibre | |||
| across 12 sectors | ||||
| Business Services | Oil & Gas | 15 analysts |
with average | 20 years |
| Financials | Property | experience of | ||
| Healthcare | Retail | |||
| Industrials | Technology | 30+ | techMARK | |
| Investment Trusts | Telecoms | industry based | Extel | |
| Mining | Utilities | awards | StarMine |
For further information please contact:
+44 (0) 20 7781 5300
This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
NRAGRGDLSGBDGSC