2011 Interim Results

"The Company is pleased with its performance in the UK against the backdrop of a prolonged and unprecedented period of weak demand.

The Company has grown its order book to £249m (May 2011: £221m) and maintained its position as market leader, winning key contracts in strategic sectors where activity levels still offer opportunity.

The financial performance of our UK operations in terms of revenues and margins is consistent with our expectations, with strong performances in all group companies and functions to deliver client value and satisfaction.

The Company has been consistently cautious about the timing and extent of recovery in the UK market, an approach which has been justified.

The Company is forward planning on the basis that demand will remain subdued for the next few years, showing only marginal growth for the market as a whole but with further opportunity in the London commercial, power and industrial/distribution sectors.

A few select export projects from the UK have been engaged or are being pursued, but exports will remain a small proportion of turnover in light of the prevailing returns in many overseas markets.

India remains the focus of the Company's growth ambitions, with opportunity being translated into reality via the scale and content of JSW Severfield Structures' order book and the progress being made in achieving operational and commercial objectives.JSSL's order book currently (19 August 2011) stands at £41m (May 2011: £36m) which provides full activity at maximum operational output levels until June 2012.

The Company and its partner, JSW Steel, are pleased with the development of the business and in the coming months look forward to the benefits of a fully commissioned operation and the associated financial contributions.

The prospects for JSSL in the Indian market are immense and both partners are seeking to further develop the business capability in line with their growth expectations . . ."

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Tom Haughey
Chief Executive Officer

• 2011 Interim Results
• 2010 Interim Report
• 2009 Interim Report
• 2008 Interim Report
• 2007 Interim Report
• 2006 Interim Results
• 2005 Interim Results
• 2004 Interim Report