Update: Margin targets met, new goals set
The achieved FY16 margin was as an ambitious target when set in 2013, but is now seen as a staging post to the new aim of doubling PBT by FY20. Our revised estimates track towards this. With double-digit earnings progress expected (and a PEG below 1x), plus a rising dividend profile, Severfield now clearly offers both income and capital growth attractions.Severfield is a structural steelwork company, engaged in construction contracts business. Co. serves the construction and infrastructure markets, which cover a range of clients from contractors and developers, to engineers and architects. Co.'s construction sectors consist of commercial offices, Industrial and distribution, stadia and leisure, retail, and data centers and other. Co.'s infrastructure sectors consist of transport, power and energy, and health and education. Co. manages the fabrication and construction process, from initial scheme design, through detailing, specification and manufacture to the eventual handover to clients.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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