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UK steel firm Severfield's shares plunge 48% after profit warning due to project issues.
Severfield, a UK-based steel construction firm, saw its shares drop over 48% after issuing a profit warning due to project delays and cancellations.
The company now expects its full-year profit to be between £18m and £20m, down from earlier forecasts.
Despite securing future projects for 2027, current market conditions and pricing pressures are challenging, leading Severfield to cancel its share buyback program and focus on cost reductions.
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Las acciones de la empresa siderúrgica británica Severfield se hundieron un 48% después de la advertencia de beneficios debido a emisiones de proyectos.