Today marks one year since the very first passenger train went across the Ordsall Chord, making railway history.
Linking Severfield’s award winning Manchester Victoria Station with Oxford Road and Piccadilly station for the first time – the project has and will provide great benefits to its passengers and the wider economy.
The project has already won several awards, including the Tekla Global BIM Award for Infrastructure, RICS North West Infrastructure Award, North West Regional Construction Award for Digital Construction, Railway Industry Innovation Awards Major Project of the Year, and British Construction Industry Award for Partnership Initiative
Since it’s opening just one year ago, the project has gone on to win further awards, winning in this years Structural Steel Design Awards (SSDA) in October, then, more recently, winning ‘Project of the Year’ at the AJ Architecture Awards on 4 December, where the project was described by judges as ‘a complex project of great ambition, which is beautifully conceived and executed.’
Severfield plc, the market-leading structural steel group, is pleased to announce its interim results for the period ended 30 September 2018.
Continued operational and strategic progress, UK order book of £230m, India expansion underway, full year results in line with expectations
- Revenue up 9% to £149.1m (H1 2017: £137.1m)
- Underlying* profit before tax up 2% to £13.1m against a particularly strong H1 2017 profit of £12.9m which included higher than normal profits from certain project completions
- Interim dividend increased by 11% to 1.0p per share (H1 2017: 0.9p per share)
- Continued cash generation, resulting in period-end net funds of £25.3m (31 March 2018: £33.0m) after the payment of 2018 final and special dividends (£10.3m)
- Over 70 projects undertaken during the period in key market sectors including the new stadium for Tottenham Hotspur FC, the retractable roof for Wimbledon No. 1 Court and a new commercial tower in London at 22 Bishopsgate
- UK order book of £230m at 1 November 2018 (1 June 2018: £237m) comprising more small, lower risk projects
- Continued good performance from Indian joint venture – share of profit of £0.4m (H1 2017: £0.1m)
- Improving Indian market position reflected in order book of £124m at 1 November 2018 (1 June 2018: £106m), expansion of Bellary facility now underway
* Underlying results are stated before non-underlying items of £nil (H1 2017: £1.3m):
Amortisation of acquired intangible assets – £nil (H1 2017: £1.3m)
The associated tax impact of the above – £nil (H1 2017: £0.3m)
Alan Dunsmore, chief executive officer commented:
“Our continued operational and strategic progress has resulted in another period of growth for the Group. In addition to a high quality and stable UK order book, we continue to see good progress in India and have established exciting new organic opportunities for growth.
With our market-leading position, we are well placed to deliver on our strategic objectives and generate enhanced value for our shareholders.”
See the full press release for our interim results on our RNS page here.
This week is Trustees’ Week. A week to celebrate the great work that trustees do and to show the opportunities available to each individual, from all walks of life, to get involved and make a difference.
Heather Williams, Trustee of The Severfield Foundation
Trustee of The Severfield Foundation, Heather Williams, explains her role as a Trustee and what a difference Severfield’s charity is making to others.
“As a Trustee, I am extremely passionate about supporting The Severfield Foundation. Ultimately we, as Trustees, share the same goals and ambitions – to increase awareness and raise the desperately needed funds for research and support for our chosen charities.
Through The Severfield Foundation, we’ve been able to provide numerous opportunities to colleagues, such as skydives, marathons and cycling events, to help them raise money for worthwhile causes.
Being a charity Trustee gives me the chance to make a difference, to encourage colleagues to get together for a common goal – it’s something I am extremely proud to be a part of.
We’ve previously partnered with Prostate Cancer UK and now our charity partner is Alzheimer’s Society, with our first event being ‘Elf Day’ on Friday 7th December. Hopefully we will have lots of colleagues taking part and it will be a great start to our partnership.”
‘City’s tallest tower’
New Steel Construction’s November 2018 edition was recently released – featuring the impressive TwentyTwo project in London.
The article has many remarkable facts and figures about the project, located at 22 Bishopsgate in London.
Speaking to NSC’s Martin Cooper, Severfield’s Project Manager Kyle Fletcher explains all about our ‘Rhino’ truss and our Senior Site Manager, Micky Reilly gives details on what it’s like erecting steelwork on a building that will ultimately stand at 278m tall.
TwentyTwo is due to be completed by the end of 2019, topping out at 62-storeys.
Following a successful two years since The Severfield Foundation was created, we are delighted to announce our new national partnership with Alzheimer’s Society.
Dementia is the UK’s biggest killer, overtaking heart disease only recently. Last year, the disease, in all its forms, claimed the lives of over 70,000 people. And so far, there is no known cure.
Around 850,000 people in Britain are living with dementia, with numbers set to rise to over 1 million by 2025, with the majority having Alzheimer’s disease – the most common type.
It’s for these reasons that The Severfield Foundation has committed to work with, and support, the charity over the next two years.
Everyone at Severfield is looking forward to what this new partnership has to offer allowing us to all do our bit to help, and in the process, learn more so we’re able to care for loved ones in our family, or our communities at large, who are affected.
And with The Severfield Foundation’s partnership, Alzheimer’s Society can build on the support they provide – to carers, to those living with dementia, and to society as a whole.
As the UK’s market-leader in structural steel, we are continuing to drive forward operational productivity by investing in world class technology.
Nothing demonstrates this more than our investment in our £2million state-of-the-art ‘T & I’ plate girder line at our production facility in Lostock, Bolton, which is set to significantly develop our capability within the bridge market.
Following on from the employment of a team specialising in structural bridge work, there has been a specific focus on growing and diversifying expanding markets such as the infrastructure sector. This, coupled with the state of the art ‘T & I’ line in Lostock, puts Severfield at the forefront of the sector.
The ‘T & I’ line, which will supplement existing plate girder lines at the our Dalton site in North Yorkshire, is the biggest of its kind in the UK and capable of building steel beams of up to 3.5 metres in depth and 1.5 metres in width; a ‘T & I’ plate girder line assembles flat plates into the distinctive top ‘T’ sections and the vertical ‘I’ sections. This, in addition to further investment in an on-site paint shop and enhanced blasting facilities, will enable us to deliver up to 95% of the current bridge market. This investment comes at a very significant time, with HS2 on the horizon.
Commenting on the investment, Severfield (UK) Managing Director, Gary Wintersgill, said: “The investment at our facility in Lostock enables us to build on our capability as the UK’s largest bridge provider and deliver not only the volumes required by the market, but also the productivity benefits from modern state-of-the-art equipment”.
The investment in the ‘T&I’ plate girder line follows on from the successful completion of the Ordsall Chord project in Manchester, which was completed late last year. Severfield fabricated and constructed many different elements of the Ordsall Chord, including the world’s first asymmetric network arch rail bridge which is now an iconic part of the Manchester skyline.
Today marks the official public opening of Coal Drops Yard, the latest shopping and lifestyle district to open in London.
Located just a short walk from London’s King’s Cross Station, Coal Drops Yard’s prime location means it is ideal for keen shoppers and those who simply wish to visit and enjoy this new, extraordinary public space.
The original structures, built back in 1850, have had several uses and inhabitants over the years; namely for being the main coal store for all of London, it then it went on to be warehousing, offices, and more recently, nightclubs. It was decided that rather than demolishing and removing the old existing Coal Drops Yard, its legacy would be reinvented.
There’s no question, the design and construction of Coal Drops Yard is an architectural and engineering masterpiece. With its cobbled courtyards, canal-side arches, breathtaking suspended connecting bridge and ribbon truss roof – the heritage and history of Coal Drops Yard has been sustained to accommodate the new and modern design from Heatherwick Studio.
Severfield was heavily involved in the project – right from the design stage, and went on to provide and construct some 1,300 tonnes of structural steelwork on site. We also designed the bespoke temporary works steelwork that was required to support the new feature roof during construction.
We are extremely proud to have been involved in this project and are certain it will provide much enjoyment to the public for many years to come.
‘Three up in second city’
New Steel Construction (NSC) has today released it’s September 2018 issue – with Severfield project Three Snowhill, Birmingham taking centre stage.
Severfield is extremely proud to have worked on this 19-storey office tower in Birmingham, forming a ‘stunning gateway to the city’s business district’.
You can read further details on this project, including information on how Severfield’s early contract involvement, in-house skills and delivery systems have contributed to the success of the final plot on the Snowhill development.
Severfield plc, the market-leading structural steel group, is pleased to announce its annual results for the 12 month period ended 31 March 2018.
Another year of improved performance with a 19% increase in underlying profit before tax, a 13% increase in core dividend and a special dividend of 1.7p per share
- Revenue up 5% to £274.2m (2017: £262.2m)
- Underlying* profit before tax up 19% to £23.5m (2017: £19.8m)
- Underlying basic earnings per share up 15% at 6.4p per share (2017: 5.5p per share)
- Continued strong cash performance resulting in year-end net funds of £33.0m (2017: £32.6m) after equity investment of £5.5m in Indian joint venture to repay term debt
- Total dividend increased by 13% to 2.6p per share (2017: 2.3p per share), includes proposed final dividend of 1.7p per share (2017: 1.6p per share)
- Proposed special dividend of 1.7p per share to deliver a total cash return to shareholders of 4.3p per share
- Return on capital employed (‘ROCE’) of 16.5% (2017: 14.6%)
- Over 100 projects undertaken during the year in key market sectors including the new stadium for Tottenham Hotspur FC, the retractable roof for Wimbledon No.1 Court and a new commercial tower at 22 Bishopsgate
- UK order book of £237m at 1 June 2018 (1 November 2017: £245m), including landmark contract for the new Google Headquarters at Kings Cross for 2019
- Reorganisation of our factory operations in North Yorkshire now completed
- Continued profitability from Indian joint venture of £0.5m (2017: £0.2m), improving market position now reflected in India order book of £106m at 1 June 2018 (1 November 2017: £79m)
Alan Dunsmore, chief executive officer commented:
‘The strong performance that we are reporting today pays tribute to the hard work of all our staff and continues to reflect our well-established market-leading position and our focus on operational performance and efficiencies.
With a high quality and stable UK order book of £237m and a strong pipeline of opportunities which provides us with good visibility of earnings, together with an encouragingly improving outlook for our Indian joint venture, we remain confident that 2019 will be another year of progress for the Group.’
See the full press release on our RNS page here.
The annual ICE North West Civil Engineering Awards took place on Friday 9 March at the Titanic Hotel in Liverpool.
The Ordsall Chord project was the ‘Large Community and Heritage Project’ winner and was awarded to the complete project team: Network Rail, Aecom Mott MacDonald JV, Skanska Bam JV, BDP, Siemens, Amey Sersa JV and Severfield.
Representing Severfield at the ICE awards was Jarrod Hulme, Project Manager (pictured above far left).
The Ordsall Chord project involved the refurbishment and enhancement of key heritage structures, including Grade I Listed Stephenson’s Bridge.
This project is part of Network Rail’s multi-billion-pound North of England Programme, which is an impressive scheme aiming to transform rail connectivity in the north of England and boost economic growth.