Severfield sees order book remain at a strong level following EU vote

The order book slipped from a six-year high of £270m in June to £268m at the end of August. The Thirsk-based firm, which has won prestigious new contracts at Wimbledon’s No. 1 Court and Tottenham Hotspur FC’s new ground, said it is working across a wide range of market sectors and project sizes

Severfield, which supplied the steel for Arsenal’s Emirates Stadium, the Shard skyscraper and the London 2012 Olympic stadium, told shareholders at the group’s AGM in York that trading is in line with expectations.

Chairman John Dodds told shareholders: “The UK order book of £268m as at August 31 has remained at a very strong level in the period following the EU referendum result. Our pipeline of potential future orders has also remained stable with a good balance of work across all key market sectors.

“With its strong order book, continuing profit improvement programme and our ability to work across a wide range of market sectors, including infrastructure, the UK business is well placed to continue to meet expectations.

“The Indian business continues to perform steadily and is well placed to benefit from any improvement in the Indian economy. Overall, the group is on track to progress as expected over the remainder of the financial year.“

He said that with an order book of £37m, the Indian business remains steady and continues to generate an encouraging level of new opportunities amid signs that economic optimism in the country is beginning to increase.