16th Feb 2016 08:28
LONDON (Alliance News) - Structural steel company Severfield PLC on Tuesday said trading in its financial year remains in line with its expectations, with its order book growing since the start of the year.
Severfield said its order book currently sits around GBP246.0 million, up from GBP185.0 million at the start of November, following a number of recent contract wins. The group's operating margin also improved in line with its expectations, driven by self-help measures the company has implemented.
Severfield said its unit in the UK has continued to trade well within a relatively stable environment, while its Indian business is solid despite a mixed economic backdrop in the country.
Overall, Severfield said it is on track to meet its expectations for the financial year to the end of March.
Shares in Severfield were untraded on Tuesday, having last traded at 58.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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