Severfield Share News (SFR)

(Sharecast News) - Severfield said in an update on Tuesday that trading since the start of its financial year had been in line with expectations, with full-year results for the 2026 financial year still expected to be heavily weighted towards the second half.

The London-listed structural steel specialist reported an order book of £420m for the UK and Europe as of 1 September, down from £444m in July but with £330m of work scheduled for delivery over the next 12 months.

It said 19% of the order book related to projects in continental Europe and Ireland, compared with 22% previously.

In India, Severfield's joint venture JSSL reported a record order book of £252m, up from £240m in July, with 85% comprising higher-margin commercial work.

The company said India's construction sector and use of structural steel continued to grow strongly.

Severfield said the bridge remedial works programme was progressing as planned, with no changes to cost estimates.

It confirmed it had now received the full £20m insurance recovery agreed with its professional indemnity insurers.

The company recently extended its £60m revolving credit facility to December 2027, and said its financial position remained strong with a continued focus on cash generation and working capital control.

Half-year results were due on 25 November.

At 1227 BST, Severfield shares were down 0.34% at 32.39p.

Reporting by Josh White for Sharecast.com.