Severfield Share Discussion Threads

[mfhmfh] 22/11/2017 13:10

very positive write up from paul scott on stockopedia

[diesel] 21/11/2017 11:30

Probably enough of a rise for today but see no reason why this shouldn't reach new highs, solid growth of Rev, profits, cash and divvi plus undemanding PE.

[cc2014] 21/11/2017 08:25

Surprised it hasn't moved higher.




Alan Dunsmore, acting chief executive, said that the new business venture, Severfield Products and Processing, allowed the group to make better use of its operational footprint in Yorkshire and address smaller scale projects, a segment of the market which historically it has tended to ignore.

[jaf111] 21/11/2017 07:42

“....comfortably ahead of previous expectations”

Always happy when I see this....makes a bit of a nonsense of the recent share price malaise.....

[owenski] 21/11/2017 07:19

Looks like Indian JV moving into profit.

[gersemi] 21/11/2017 07:04

Quite superb -

[la forge] 18/11/2017 19:44

By Katherine Greifeld & Anooja Debnath / Bloomberg

When the going gets tough, traders are increasingly buying the euro these days.

Europe’s common currency, which just a few years ago was almost a byword for political instability and faced threats to its very existence, is now attracting buyers at times when risk assets around the world are being sold. Part of that is due to haven flows and investors unwinding carry trades. But it also reflects a market that is increasingly upbeat about growth and inflation in Europe even as central bankers remain reticent about dialing back stimulus.

“Europe is becoming an attractive destination to put your money to work,’’ said Viraj Patel, a London-based currency strategist at ING Groep NV. “This is certainly the case for medium-term real money investors, who are more sensitive to broader political trends and cyclical economic stories.”

While investors aren’t pricing any rate hikes by the European Central Bank until at least 2019, strategists say it’s becoming harder to ignore the continent’s improving macroeconomic backdrop when looking at the euro against its peers. With European interest rates still hovering near record lows, the shared currency has yet to decisively break above the key $1.20 level. But behind its recent bouts of strength lies the realization that the ECB may start running out of excuses to maintain its stimulus.

Policy makers may be coming around to that view as well. ECB President Mario Draghi said Friday that wage growth should start to pick up, helping push inflation back toward the central bank’s goal of close to 2 percent. Draghi’s comments followed remarks from executive board member Yves Mersch, who said that markets wouldn’t be right to expect another extension of asset purchases after September 2018.

Relative Safety

The euro rallied as global equities took a battering earlier this week and is on track for its strongest weekly gain since Sept. 8. It’s risen more than 1 percent since last Friday and stood at $1.1795 as of 10 a.m. in New York.

The average forecast in a Bloomberg survey of analysts is for the common currency to appreciate to $1.22 next year and $1.25 in 2019. Goldman Sachs Group Inc. predicts that the euro will advance to $1.20 in the coming 12 months and says that the portfolio shifts that have driven strength in the currency this year have “more room to run.”

A surplus in the region’s current account, the broadest measure of trade and services, underpins the euro’s haven appeal, according to Vassili Serebriakov, an FX strategist at Credit Agricole SA. “Overall, the euro does perform fairly well in risk-off environments,” he said.

Increased political stability also helps. Risks posed by events such as this year’s French elections are now largely in the rear-view mirror for Europe, and the market impact of more unexpected disturbances such as the ructions in Catalonia have been relatively muted. That’s a far cry from the kinds of scenes that were playing out across the continent at the height of the euro-zone debt crisis. In contrast, other major currencies such as the dollar and the pound are currently plagued by major political uncertainties in the wake of last year’s U.S. election and the Brexit vote.

Growth and Inflation

The euro’s advance comes as analysts boost expectations for European economic expansion and markets price in firmer prospects for inflation. Analysts surveyed by Bloomberg have raised their median euro-area growth forecasts for this year to 2.2 percent from about 1.5 percent at the beginning of January. Last week’s better-than-expected German gross domestic product figures underscored the strength of a European economy that’s on track for its best year of growth in a decade and provided extra impetus for euro bulls.

And while price growth remains short of the European Central Bank’s 2 percent goal, the five-year, five-year inflation swap rate rose to the highest level since March this week as policy makers continue to advocate prudence in scaling back ultra-expansionary monetary stimulus.

Investors calling time on emerging market carry trades, among the most profitable currency strategies this year, will also fuel a year-end boost for 19-nation currency as traders reassess positions, according to Credit Agricole’s Serebriakov.

“We’re approaching year-end, and carry trades in the emerging-market space have been very popular this year, so we’re seeing a bit of positioning unwind,” he said.

Europe’s burgeoning current account surplus and persistent growth will sustain euro strength into 2018, according to Shahab Jalinoos, head of foreign-exchange strategy at Credit Suisse Group AG. The surplus expanded to a record 3.5 percent of GDP in June 2016, from about zero in 2011, according to data compiled by Bloomberg. The surplus remained at 3 percent as of June.

“The euro will continue to go higher because of the 3 percent of GDP current account surplus backing it up,” Jalinoos said in a Bloomberg TV interview. “Effectively, when you combine that with the very strong growth number that we’ve seen in countries across the euro area, the natural path is to go up.”
Share this post

[waldron] 11/11/2017 17:50

PONDER YONDER SUMMIT TO COIN A SWISS ALP PHRASE

[cc2014] 24/10/2017 11:49

This is a pure guess but think possibly SFR down due to forced seller. Just my theory. See NTBR thread

[steelwatch100] 16/10/2017 14:10

This construction products forecast published today, if correct is not great news going forward for 2018 & 2019. As office & retail currently form the backbone of SFR’s target workload, the orderbook “realignment” which stared earlier in the year may continue for some time!

Autumn CPA forecast
Construction output to rise 0.7% in 2017, 0.0% in 2018 and 2.0% in 2019
Private housing starts to rise 5.0% in 2017 and 2.0% in 2018
Offices construction to decline 5.0% in 2017, 15.0% in 2018 and 5.0% in 2019
Retail construction to fall 7.0% in 2017, 5.0% in 2018 and rise 2.0% in 2019
Infrastructure work to rise by 7.4% in 2017, 6.4% in 2018 and 9.8% in 2019

[owenski] 11/10/2017 13:31

Lot of volume today

[cc2014] 11/10/2017 11:29

there was an unfilled buy order in last nights closing auction of 341k shares at 69, so I'm assuming someone is looking to collect stock

[steelwatch100] 04/10/2017 13:05

Some more positive statements in the bridge market as Cleveland Bridge announce improving prospects (profits up to 4m in 44m turnover 2016).

The taking on of senior staff from Fairfield Mabey last year looks to put SFR in a good position to take advantage of the future increased demand for bridges in the U.K.

I am beginning to think I have been too harsh in my criticism in the recent past.


From construction enquirer:

Its new management team today reported profits of £4m last year, up £1.5m on its turnaround year.

The firm’s headcount rose from around 230 in 2015 to 300 last year.


Chris Droogan, Managing Director of Cleveland Bridge UK, said: “The focus and ability of the new management team, supported by our talented, skilled and dedicated workforce has enabled the business to not only achieve a second successive year of profit, but deliver a significant increase.

“The investments we have made in our facilities, equipment, processes and people are ensuring that Cleveland Bridge UK can successfully continue an engineering legacy of 200 years, which has seen the company achieve a global reputation across six continents.

“We are well-placed to benefit from continued infrastructure investment in domestic and international markets, which will enable the company to strengthen its market share and underpin profit and growth expectations.”

[jadeticl3] 03/10/2017 10:11

Where do we need to be for a breakout? I thought we were already out!

[diesel] 03/10/2017 09:16

Critical time, are we going to break out of the downtrend or stay in the channel?

[steelwatch100] 03/10/2017 08:56

Some positive news.

Just heard that SFR’s new metal decking acquisition, is now rolling cold formed sections, in addition to decking. When confirmed, this should save them buying in about 10 - 15 m per year from traditional cold rolled suppliers.

Good to see the management looking at maximising opportunities. This should help the bottom line and to be less reliant on others.

[huttonr] 29/9/2017 16:05

Tipped in IC

[cc2014] 29/9/2017 08:07

Tipped somewhere? Odd volume first thing

[cc2014] 28/9/2017 10:48

Nice repeater bot running today buying off the offer on a timer every so often.

I would suggest that it's having to do this as it can't source any volume from the MM's.

Works nicely with the turn off around 60 on high volume