Member Article

Sheffield's SIG reports positive end to 2014

SIG plc, a Sheffield supplier of building products in Europe, has reported an expected pretax profit of £95.6 million for the 12 months ending 31 December 2014, a marginal improvement on £90 million in 2013.

The firm saw an increase in group revenues of 2.5% on the prior year, despite adverse effects of foreign exchange translation which reduced sales by 3.1%.

Like-for-like group sales increased by 3.7% for the sale period, with like-for-like sales in UK and Ireland up by 9.1%.

In a statement, the company said: “The Group expects continued good growth in the UK & Ireland, driven by residential demand and increasing activity in the commercial sector; uncertainty to remain in Mainland Europe, with no indication yet of any improvements in either the French or German construction markets; and further scope for self-help through market outperformance and the strategic initiatives.

As a result of these factors SIG is confident of achieving further progress in 2015, although strong H1 comparators mean that this is likely to be weighted towards the second half of the year.

This was posted in Bdaily's Members' News section by Ellen Forster .