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Structural steel group Severfield posted a 4.5% rise in annual profit but suspended dividends until it gets more clarity on the impact of Covid-19.
Pre-tax profit for the year through March increased to £25.8m, up from £24.7m on-year, as revenue rose 19% to £327.4m.
Severfield has deferred a decision on its dividend until it had greater visibility on the impact of Covid-19.
The company's factories were operational and all of its UK and European construction sites remained open.
Tendering and pipeline activity remained encouraging, but some investment decisions were being delayed by clients.
'The strong set of results that we are reporting today reflects the further operational and strategic progress that we have made in 2020,' chief executive Alan Dunsmore said.
'Despite the ongoing uncertainty of Covid-19, we remain well placed to win work in the diverse range of market sectors and geographies in which we operate.'
'This allows us to target a good pipeline of opportunities and provides us with the extra resilience and ability to increase our market share.'
'With our teams on site and operational, we are in a good position to service our clients and manage the potentially challenging market ahead.'