Severfield has posted a £7.6m pre-tax loss in its H1 results after reporting a “subdued” period of market activity.

The structural steel contractor also said a “competitive bidding environment” had continued to drive tighter prices, as the company posted an 18% fall in revenue to £206m for the period.

Severfield, announcing its results for the six months to 27 September, did however report a diversified UK and Europe order book of £429m, of which £324m is for delivery over the next 12 months.

The company also reduced its net debt in the H1 period to £21.7m, which was down from £43.1m at the end of March this year.

Severfield CEO, Paul McNerney, said: “I have initiated a strategic review of our markets, operations and organisational structure and I look forward to presenting the findings of this review in 2026.

“I am focused on redefining our strategy, strengthening our manufacturing and delivery capabilities, driving greater efficiency, and on bringing an absolute focus on engineering excellence for our customers – ensuring we are well positioned for future growth.”

In its latest trading statement, Severfield also said it has “good visibility” over its H2 revenue through orders already secured in its £429m order book.

The construction company also said it is “well-positioned” to win work in markets and sectors with “excellent” longer-term growth opportunities, including within energy and infrastructure.

McNerney added: “I look forward to working with the board and the wider team to grow the business and deliver sustainable value for all stakeholders.”

---