A UK based structural steel work company engaged in the construction and infrastructure contract business, consisting of commercial offices, industrial and distribution, stadia and leisure, retail, and data centers and others.
21-Nov-2017 – 64.5p – £202.6m – PER 10.5
Interim Results For The Period To End September 2017 – Revenue up 16% to £137.1m, PBT up 59% to £12.8m, Interim dividend up 29%, Order book up 10% at £245m – Full year results expected to be comfortably ahead of expectations.
Quite like this and tempted at this level. Looking for negatives, there is a £20m Pension Deficit but there’s also Net Cash of £32.4m. As I say, quite liking this.
Subsequent Note: This is cheap here and although it may be affected by a downturn – The government is surely still going to spend on infrastructure.
14-Dec-2017 – 73p – £218.7m – PER 11.1
Awarded Landmark Contract For Google’s UK Headquarters – “This contract win adds to our recently announced strong order book of £245m and supports Severfield’s position as the market leader with unrivaled design, fabrication and construction capabilities”.
Quite a lot to like here – It’s on my Watchlist around the 67p level.
11-Apr-2018 – 73.5p – £220.3m – PER 11.0
Remains on my Watchlist at 67p for now.