Severfield pays out as cash swells in line with infrastructure demand

Structural steel manufacturer Severfield sees a stable market in the UK, predicting modest growth thanks to a good pipeline of potential future orders. Severfield, which is contributing products to those constructing Tottenham Hotspur's new stadium, posted a 5% increase in revenue to £274.2m for the trading year to 31 March, while underlying profit jumped 19% to £23.5m and pre-tax profits moved ahead 22% to £22.2m. Severfield highlighted a "strong" cash performance, closing out the period ...

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