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bullish

Severfield - Performing well with improving outlook

471 Views21 Jun 2024 11:10
Issuer-paid
SUMMARY

Severfield’s FY24 results demonstrate robust profit growth despite declining revenue, and management highlighted the positive outlook in its key markets of the UK, Continental Europe and India. The total order book has also remained at elevated levels despite the loss of the £50m Sunset Studios order, highlighting the underlying future earnings visibility. The FY25e P/E rating of 8.1x is comfortably below the long-term average of c 10x, implying material risk is discounted in the rating. The stock yields over 5% despite a recent bounce in the share price, an added attraction.

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  • Severfield - Performing well with improving outlook
    21 Jun 2024
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