Research on Severfield Plc (SFR:LON)  from Edison

In its pre-close trading update, Severfield reported FY26 PBT guidance of £10.2m in line with market expectations, while year-end net debt of c £28m was better than expected. The company introduced cautious FY27 PBT guidance of £12–15m, which the shares took in their stride. At 7.7x FY27 forward P/