Structural steel supplier Severfield (LON: SFR) did better than expected in its underlying trading in the first half. However, there was a £21.9m unexpected contract charge. There are also delays to work because of challenging conditions and poor pricing is hitting margins.
This is not unusual. There are plenty of companies that have been hit by delays related to the General Election and the Budget. The UK structural steels market is flat and prices have declined. The Indian joint venture was also hit by the election in that country.
Interim revenues were 17% higher at £215.3m, but ther...
