PROGRESSIVE: Severfield- Refreshed strategy sharpens focus on returns
Research on Severfield Plc (SFR:LON) from Progressive Equity Research
Severfield’s new management team has set out ambitious earnings growth targets, focusing the structural steel group’s strategy towards higher margins and returns, by climbing the ‘value chain’ in sectors in which its engineering expertise and balance sheet strength are ideally suited. In the UK and Europe, these include power, datacentres and, increasingly, defence. Meanwhile, the Indian JV is poised to accelerate growth. The 29 July AGM confirmed ‘in line’ performance and strong order growth.
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