The Severfield PLC directors have declared an interim dividend in respect of the six months ended 30 September 2021 of 1.2p per share (2020: 1.1p per share) which will amount to an estimated dividend payment of £3,710,000 (2020: £3,372,000). This dividend is not reflected in the balance sheet as it was declared and will be paid after the balance sheet date.
Other financial highlights include:
Revenue up 5% to £195.9m (H1 2020: £186.0m)
Underlying profit before tax up 23% to £10.3m (H1 2020: £8.4m)
Period-end net debt (excluding IFRS 16 lease liabilities) of £6.7m (31 March 2021: net funds of £4.4m), including acquisition loans of £17.8m (31 March 2021: £20.7m), reflects unwinding of unusually low March 2021 working capital position
Record UK and Europe order book of £393m at 1 November 2021 (1 June 2021: £301m), includes new industrial and distribution and bridge orders and the new stadium for Everton F.C.
Share of profit from JSSL of £0.3m (H1 2020: loss of £0.7m), return to profitability reflects an Indian market which is now showing clear signs of recovery from second wave of COVID-19
India order book of £140m at 1 November 2021 (1 June 2021: £140m)