March 26, 2020 / 7:25 AM / 6 days ago

BRIEF-SIG Sees FY Profit Before Tax In Line With Guidance, Suspends Dividend

March 26 (Reuters) - SIG PLC:

* SIG PLC - TRADING UPDATE

* SIG PLC - FY ANTICIPATED THAT UNDERLYING PROFIT BEFORE TAX FOR YEAR WILL BE IN LINE WITH GUIDANCE OF C.£42 MILLION

* SIG PLC - GROUP HAS POSTED AN OPERATING LOSS OF C£9M FOR FIRST TWO SLOWER TRADING MONTHS OF YEAR WITH LIKE-FOR-LIKE SALES DOWN C.11%

* SIG PLC - TAKEN DECISION NOT TO DECLARE A FULL YEAR DIVIDEND

* SIG PLC - HAS CASH RESOURCES OF C.£135M

* SIG PLC - IS IN DIALOGUE WITH ITS LENDING GROUP IN ORDER TO RELEASE ADDITIONAL LIQUIDITY AS REQUIRED

* SIG PLC - NOT POSSIBLE TO PROVIDE EARNINGS GUIDANCE FOR CURRENT FINANCIAL YEAR

* SIG PLC - WILL ALSO SEEK TO MAKE USE OF TAX RELIEF AND OTHER GOVERNMENT MEASURES AS THEY BECOME AVAILABLE

* SIG PLC - PROCESS TO COMPLETE SALE OF BUILDING SOLUTIONS BUSINESS IS ONGOING, SEES COMPLETION IN Q3 2020 IF CMA DOES NOT INVESTIGATE DEAL FURTHER Source text for Eikon: Further company coverage:

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