Severfield Plc reports lower revenue for H12019

  • Nov 26, 2019 GMT
  • Team Kalkine
  • Severfield Plc (LON: SFR) has released its interim results for the period ended 30 September 2019.
  • The company reported revenue of £131.7 million as compared to £149.1 million for H1 2018.
  • The Underlying profit before tax of the company for the reported period stood at £8.2 million as compared to £13.1million in H1 2018.
  • The company has stated that the profit remained in line with expectations, current trading remains good with a number of large ongoing contracts expected to deliver stronger profits in H2.
  • Period-end net funds were of £22.5 million, excluding IFRS 16 lease liabilities of £11.9 million, as compared to net funds of £25.1 million for the period ended 31 March 2019.

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