Severfield Structural Steelwork Contractor

Inflation and war in Europe have not stopped structural steelwork contractor Severfield from delivering a positive trading statement.

Severfield’s order books show an increase of approximately £180m during the past seven months, with most of the current orders being for delivery during the next 12 months. 94% are for UK projects with the remainder for projects in mainland Europe and the Republic of Ireland.

The current level of tendering activity in the group, for the UK and Europe, is most encouraging presenting significant opportunities in the industrial and distribution, leisure, transport infrastructure, nuclear and data centre sectors. Input cost inflation (including steel prices) and disruption to raw material supplies due to Russia’s invasion of Ukraine, are at the present time being managed effectively with steel remaining a pass-through cost for the group.

The board went on to confirm that with record UK & Europe orders of £479m, opportunities together with a good positioned business in India, the outlook for the group is positive, but of course, we are mindful of the ongoing effects of the conflict between Russia and Ukraine.