The Severfield PLC directors have declared an interim dividend in respect of the six months ended 24 September 2022 of 1.3p per share (H1 2022: 1.2p per share) which will amount to an estimated dividend payment of £4,000,000 (H1 2022: £3,700,000). This dividend is not reflected in the balance sheet as it was declared and will be paid after the balance sheet date, on 3 February to shareholders on the register at the close of business on 6 January.
Other financial highlights include:
Revenue up 20% to £234.9m (H1 2022: £195.9m) reflecting increased activity and steel prices
Underlying profit before tax up 17% to £12.1m (H1 2022: £10.3m)
Period-end net debt (excluding IFRS 16 lease liabilities) of £15.8m (26 March 2022: £18.4m) reflects stable working capital position
High quality, diversified UK and Europe order book of £464m at 1 November 2022 (1 June 2022: £486m), includes new industrial and distribution, nuclear and data centre orders
Share of profit from JSSL of £0.6m (H1 2022: £0.3m) reflects further revenue growth
India order book of £143m at 1 November 2022 (1 June 2022: £158m) reflects strong continued demand for structural steel in India