Severfield warns on profits blaming major project delays

Constructional steelwork giant Severfield issued profit warning this morning blaming project delays and falling business confidence.
In a trading statement, Severfield said it would look for a further round of cost reductions and had cancelled the £10m share buyback programme to manage the fall off in workload.
The profit warning blaming an unnamed major project delay, thought to be the £4bn Agratas gigafactory in Somerset, follows a reported £6m half-year loss last November wh