The Severfield directors have declared an interim dividend in respect of the six months ended 23 September 2023 of 1.4p per share (H1 2023: 1.3p per share) which will amount to an estimated dividend payment of £4,300,000 (H1 2023: £4,013,000). This dividend is not reflected in the balance sheet as it was declared and will be paid after the balance sheet date, on 2 February to shareholders on the register at the close of business on 5 January.
Other financial highlights include:
Revenue of £215.3m (H1 2023: £234.9m)
Underlying profit before tax up 17% to £14.2m (H1 2023: £12.1m)
€24m acquisition of Voortman, an innovative, market-leading Dutch steel fabrication company, accelerating their European growth strategy and strengthening their market position in Europe
Period-end net funds (on a pre-IFRS 16 basis) of £0.4m (25 March 2023: £2.7m), includes Voortman acquisition loan of £18m, and reflects improvement in working capital
High-quality, diversified UK and Europe order book of £482m at 1 November 2023 (1 September 2023: £479m), includes new industrial, commercial office, data centre, transport and nuclear orders
Value continues to build in JSSL - share of profit of £0.6m (H1 2023: £0.6m), additional land now secured to facilitate future expansion
India order book of £165m at 1 November 2023 (1 September 2023: £170m)
