Severfield Announces Its Preliminary Results For Year Ended 31 March 2014

Highlights

• Underlying* profit before tax of £4.0m (2013: £21.5m loss)

• UK underlying operating margin (before JVs and associates) recovery to 3.3% (2013: -6.0%)

• Share of losses from Indian joint venture of £3.0m (2013: £0.3m loss)

• Period end net funds position of £0.3m (31 March 2013: £41.2m net debt)

• Further restructuring of largest business, Severfield-Watson Structures, concluded successfully

• Operational improvement programme progressing well and continuing

• UK order book steady at £168m at 1 May 2014 (1 November 2013: £172m)

• India order book of £41m at 1 May 2014 (1 November 2013: £34m)