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Steelwork contractor Severfield said it is on track to double profits by 2020 after the firm posted an improved set of numbers in its half year results.

The firm, which is working on the 22 Bishopsgate tower (pictured) in the City of London as well as Tottenham Hotspur鈥檚 late-running stadium in north London, said pre-tax profit was up 14% to 拢13.1m with revenue up 9% to 拢149.1m in the six months to the end of September.

Severfield wants to double underlying pre-tax profit to 拢26m by 2020 and in its interim results the firm said operating margins of 8.4% 鈥� down from the 9.3% recorded in the equivalent period in 2017 鈥� were 鈥渇irmly within the margin range of 8 to 10 per cent required to achieve our strategic profit target鈥�.

The firm, which is headed by chief executive Alan Dunsmore, said it expected to start work on a 拢50m contract to put up steel at the Google headquarters building in King鈥檚 Cross, north London, which is being built by Lendlease, in the second half of its financial year.

Its UK order stood at 拢230m as of 1 November which it said 鈥渃ontinues to include a high proportion of smaller projects, particularly in the industrial and distribution sector鈥�.

It said the UK market was 鈥渟table鈥� and added: 鈥淲e have seen no material impact from Brexit, however with continued uncertainty, we are scenario-planning.鈥�

It added that it saw 鈥済ood opportunities across the commercial office, industrial and distribution, data centre and infrastructure sectors鈥� 鈥� where it was won schemes at Heathrow and Manchester airports.

Overseas, it has won work on data centres in Ireland and Belgium while its India business made an after tax profit of 拢400,000, up from just 拢100,000 last time, with its order book standing at 拢124m 鈥� up from the 拢106m at the beginning of June.

It said that it was expanding it was expanding its factory capacity at its site in Bellary, which it runs with joint venture partner JSW Steel, from 60,000 tonnes to 90,000 tonnes a year. It said work will take up to 18 months to complete.