Severfield made a pre-tax lack of £5.6m within the six months to 27th September 2025, in comparison to a £4.3m loss for a similar length a yr ahead of.
Income was once down 18% at £206.0m (2025 H1: £252.3m).
At an underlying degree , there was once a £0.6m benefit ahead of tax, in comparison to £16.1m the former yr.
The marketplace for structural steelwork in the United Kingdom and Europe “stays subdued and aggressive bidding setting continues to power tighter costs”, the board mentioned.
On the other hand, tendering process is making improvements to, particularly within the distribution and information centre sectors.
Contemporary vital new undertaking awards come with the Agratas battery gigafactory in Somerset, an power from waste facility in London, and Venture One, a brand new plant for Ineo within the Port of Antwerp, Belgium
Paul McNerney joined Severfield as leader govt final month after 26 years with Laing O’Rourke. He changed Alan Dunsmore who “agreed to step down by way of mutual consent” in March after Severfield issued a 2nd income caution in 5 months.
McNerney mentioned: “We proceed to look some horny large-scale tasks coming to marketplace, specifically for FY27 and past, Having a look forward, our companies stay neatly situated to safe paintings in markets with robust long-term expansion dynamics, specifically in closely invested infrastructure and effort sectors, together with nuclear and the ones supporting the fairway power transition. This gives a robust platform from which to ship our expansion ambitions.”
He mentioned: “I’ve labored with Severfield carefully right through my occupation, together with maximum not too long ago on the Bramley-Moore Dock Stadium in Liverpool, and I do know first-hand that our groups can ship a global magnificence provider for our shoppers.
“Since becoming a member of, I’ve initiated a strategic evaluation of our markets, operations and organisational construction and I stay up for presenting the findings of this evaluation in 2026. I’ve additionally engaged with quite a lot of present and previous shoppers, and it’s been encouraging to listen to such robust strengthen for Severfield and the arrogance they’ve in our experience and supply.
“I’m inquisitive about redefining our technique, strengthening our production and supply functions, riding better potency, and on bringing an absolute focal point on engineering excellence for our shoppers – making sure we’re neatly situated for long term expansion. I stay up for operating with the board and the broader workforce to develop the industry and ship sustainable worth for all stakeholders.”
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