Steel firm says the market is 鈥渋mproving鈥� and that a more pronounced pick-up in activity is expected later this year
Structural steel firm Severfield鈥檚 UK order book has grown to 拢171m as the firm sees 鈥渃ontinuing signs of improvement鈥� in the market.
In a statement to the City this morning, Severfield reported an order book of 拢171m, up from the 拢168m of orders that it reported having on 1 May 2014.
In its statement the firm said: 鈥淢anagement鈥檚 view of the market is unchanged, with continuing signs of improvement, but it remains likely to be later in the financial year before there is any notable impact on the size or mix of the order book.鈥�
However, it also reported this morning that the order book for its India division had slipped slightly to 拢34m, down from 拢41m on 1 May.
Severfield said its Indian business was 鈥渟howing the intended improvement in operational performance鈥� with 鈥渃ost savings and improvements in production output both being evident鈥�.
It added: 鈥淥verall, the group continues to be ideally positioned for recovery in the UK construction market with its good market position and strong balance sheet.鈥�
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