Member Article

Sheffield's SIG reports positive outlook with revenue on the up

Sheffield’s SIG plc, a distributor of specialist building products in Europe, has reported that group revenues fot the first four months of 2014 were up by 9.4% compared to the same period last year.

The group benefited from acquisitions (+c.2%) but been adversely affected by foreign exchange movements (-c.2%).

The group reports that trading has benefited from the mild winter weather and weak prior year comparatives.

On a like-for-like basis sales also increased by 9.4%. This contrasts with a decline of 2.6% at the same point last year compared to the first four months of 2012.

Trading in the UK & Ireland continues to be stronger than in Mainland Europe, with LFL sales up by 13.1%. In Mainland Europe LFL sales increased by 6.0%, with France up by 5.1% and Germany ahead by 6.4%.

SIG continues to make good progress on its strategic initiatives to improve business performance, covering procurement, branch network, commercial vehicles and eCommerce.

The Group is on track to achieve its £1 million - £5 million net benefit target this year and remains committed to delivering a net annual benefit of c.£30m in 2016.

This was posted in Bdaily's Members' News section by Clare Burnett .