Severfield plc annual report 2014

Building a solid platform for growth

Severfield plc is the largest specialist structural steelwork group in the UK, with a growing presence in India and a reputation for performance and value.

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2013/14 highlights

Revenue

£231.3m

2013: £318.3m

Underlying* operating profit
(before results of JVs and associates)

£7.6m

2013: (£19.2m)

Underlying* operating margin
(before results of JVs and associates)

3.3%

2013: (6.0%)

Operating loss
(before JVs and associates)

£0.1m

2013: £26.5m

Underlying* profit before tax

£4.0m

2013: (£21.5m)

Loss after tax

£2.6m

2013: £23.1m

Underlying* basic earnings per share

0.88p

2013: (10.78p)


Chairman's introduction

Chairman's introduction

John Dodds Chairman

Operating review

Operating review

Ian Lawson Chief executive officer

Financial review

Financial review

Alan Dunsmore Financial Director

Our strategy

Our strategy

Severfield Plc is the largest specialist structural steelwork group in the UK, with a growing presence in India and a reputation for performance and value.

Market leading UK position - well positioned to benefit from a future recovery in the wider UK construction market.

Strong balance sheet - rights issue provides greater operational and financial flexibility.

Unrivalled experience and capability in design, fabrication and construction of steel structures.

Operational improvement and cost savings programme under way - operating margin target remains 5 per cent to 6 per cent in current market conditions.

Established foothold in the developing Indian market - good production capability with further investment made to support expansion.

Our business model

Our business model

Severfield is the UK's premier structural steel group, operating across four sites providing unrivalled capacity and capability. We also have an expanding operation in India, which forms part of our international growth plans. The Group's businesses perform every part of the fabrication and construction process from initial scheme design, through detailing, specification and manufacture to the eventual handover to our clients of a quality product on-site.

Strategic report Our business & strategy

Strategic report Our performance

Corporate social responsibility

As the UK's premier structureal steel group, we know that the decisions we make can have a significant effect on the environment and people's lives and communities.

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Key Performance Indicators

The Group measures success through key performance indicators (KPIs) which should be reviewed in the context of market conditions and the industry sector in which the Group operates.

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How the business manages risk

The board has established an ongoing process for identifying, evaluating and managing the significant risks faced by the Group.

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