Last checked at 11 Jun 2012 07:00
11 June 2012
Severfield Rowen plc
(the "Group")
Trading update
Further to the Interim Management Statement on 18 May 2012, which indicated that results for the full year would see a greater weighting towards the second half of the year, we now expect that weighting to be more pronounced as a result of anticipated operational overruns of £1.6 million against our estimated costs on two complex projects in the UK. Profit before tax in the first half is now currently expected to be in the order of £1.5 million.
Our performance for the full year remains well supported by our strong order book, anticipated full capacity utilisation and good project mix in both the UK and India. While we still expect to deliver profit growth year on year, profit for the full year may be lower than current expectations.
The Group will announce its Half Year Results on 21 August 2012.
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For further information, please contact:
Severfield-Rowen Plc | John Dodds Chairman Tom Haughey Chief Executive Officer Alan Dunsmore Finance Director
| 01845 577896
01845 577896
01845 577896
|
Jefferies Hoare Govett | Simon Hardy Harry Nicholas
| 020 7029 8316 020 7029 8316 |
Pelham Bell Pottinger | Archie Berens Zoe Sanders Guy Scarborough | 020 7861 3112 020 7861 3887 020 7861 3870 |