Severfield profits jump as steel price hikes tempered

Britain’s biggest steelwork contractor has delivered profit growth in the first half despite continuing raw material price hikes.
Revenue jumped 20% to £235m with £23m of the £39m rise due to increases in steel prices
Alan Dunsmore, chief executive officer, said Severfield had managed to mitigate the impact of raw material price hikes and increased energy costs.
This helped to deliver a 29% jump in pre-tax profit to £10.2m.“The increase in profit highlights ou