2012 Full Year Results

Severfield-Rowen Plc, the market-leading structural steel group, today announces its unaudited Preliminary Results for the 15 month period ended 31 March 2013.

Financial Highlights

• Rights Issue completed successfully on 5 April 2013 raising £44.8m of new funds (net of expenses)
• Revised revolving credit facility of £35m effective from completion of Rights Issue
• UK business reorganisation and operational improvements continuing under new Group leadership
• Underlying loss before tax of £21.5m (2011: £10.1m profit)
• Share of losses from Indian joint venture £0.3m (2011: £2.5m)
• Basic earnings per share of -25.91p (2011: 6.52p)
• No final dividend recommended (first interim dividend 1.50p)
• Period end net debt of £41.2m (31 December 2011: £31.3m)
• Solid UK order book of £197m (31 December 2012: £209m)
• Current JSSL (India) order book value £29m (31 December 2012: £29m)

Download the 2012 Full Year Results (4 June 2013).