profits up25 Sep 2007 08:32
LONDON (Thomson Financial) - Severfield-Rowen PLC, the structural steel
group, posted a 34 pct increase in first-half pretax profit boosted by a strong
order book, which was driven by strong demand.
First-half pretax profit rose 34 pct to 15.88 mln stg from 11.81 mln but
revenue only increased 5 pct to 137.56 mln.
The company said that given continuing strong demand for the group's
products and services, it is confident of the group's prospects for the
second-half and beyond.
Chairman Peter Levine said: "Our record order book gives us excellent
visibility and we continue to operate in buoyant markets, which are experiencing
high demand for large scale projects."
The company increased its interim dividend by 35 pct to 27 pence per share.
Severfield-Rowen shares closed Monday at 2,255 pence, valuing the company at
460 mln stg.
By Anita Likus: anita.likus@thomson.com
aml/aml/ajb