A new Annual Deferred Bonus Scheme will be introduced later this year at structural steel group Severfield-Reeve.
The scheme is a "thank you" to employees of the Thirsk-based company - soon to be known as Severfield-Rowen - which has a bulging order book in excess of £50 million. In addition, the group's £23 million investment programme over five years has now been completed.
Severfield-Reeve's financial performance for the year ended December 31, 1998, showed a strong improvement on the previous 12 months. Turnover increased by seven per cent to £129.8 million (1997: £121.1 million). Pre-tax profit, excluding exceptional gains, was up 11 per cent to £10.2 million (1997: £9.2 million).
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