bullish
Severfield - FY20 in line, COVID-19 muddies trading outlook
SUMMARY
Severfield has confirmed there was no material impact on trading from COVID-19 in FY20. Its end March net funds position was above our expectations and its stated facility headroom was c £50m at that time. Understandably, the start to FY21 has seen disruption both in the UK, and from India’s lockdown status. The impact on trading is difficult to assess accurately so we are withdrawing our estimates beyond FY20 until the scale of the overall business impact can be better quantified.
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
- Unlock all research summaries
- Follow top, independent analysts
- Receive personalised alerts and emails
- Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.
or
Already have an account? Sign In Now
Discussions
(Paid Plans Only)
Edison Investment Research
Leading International Investment Research
Price Chart(Sign Up to Access)
- Severfield - FY20 in line, COVID-19 muddies trading outlook23 Apr 2020
x