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SIG PLC (SHI.L)

SHI.L on London Stock Exchange

151.70GBp
20 Feb 2018
Change (% chg)

4.10 (+2.78%)
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147.60
Open
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Volume
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Latest Key Developments (Source: Significant Developments)

SIG Plc says group like-for-like revenues for 2017 were ahead by 4.0 pct
Tuesday, 9 Jan 2018 02:00am EST 

Jan 9 (Reuters) - SIG Plc ::TRADING UPDATE AND CHAIR OF REMUNERATION COMMITTEE.GROUP REVENUE FROM CONTINUING OPERATIONS FOR 2017 INCREASED BY 7.5% TO C. £2.8BN.GROUP LIKE-FOR- LIKE ("LFL") REVENUES FOR 2017 WERE AHEAD BY 4.0%, IN LINE WITH OUR EXPECTATIONS.TRADING CONDITIONS IN CONSTRUCTION MARKETS ACROSS MAINLAND EUROPE CONTINUED TO SHOW SIGNS OF IMPROVEMENT.IMPROVEMENT IN CONFIDENCE IN MAINLAND EUROPEAN MARKETS CONTINUES TO MITIGATE A WEAKER SECOND HALF MARGIN PERFORMANCE IN UK.OVERALL EXPECTATIONS FOR UNDERLYING PROFITABILITY FOR FULL YEAR REMAIN UNCHANGED.LFL REVENUES WERE UP BY 2.1% IN UK & IRELAND DURING 2017.HAS INITIATED A RIGOROUS REVIEW OF CONTROLS AROUND CHEQUE ISSUANCE AND WILL PROVIDE A FURTHER UPDATE AT TIME OF ITS FULL YEAR RESULTS.CONTINUES TO TARGET A 1.0-1.5X LEVERAGE RANGE DURING 2018 AND IS AIMING TO MAINTAIN LEVERAGE BELOW 1.0X OVER MEDIUM TERM.IS ANTICIPATING HEADLINE FINANCIAL LEVERAGE OF C.1.9X AT 31 DECEMBER 2017.  Full Article

SIG ‍Plc appoints Andrew Allner as a non-executive director and chairman
Wednesday, 11 Oct 2017 02:00am EDT 

Oct 11 (Reuters) - SIG Plc :‍ANDREW ALLNER AS A NON-EXECUTIVE DIRECTOR AND CHAIRMAN WITH EFFECT FROM 1 NOVEMBER 2017​.NAMED ANDREW ALLNER AS A NON-EXECUTIVE DIRECTOR AND CHAIRMAN WITH EFFECT FROM 1 NOVEMBER 2017​.  Full Article

SIG says expectations for full year unchanged
Tuesday, 8 Aug 2017 02:00am EDT 

Aug 8 (Reuters) - SIG Plc :NET DEBT AT 30 JUNE 2017 WAS 166.5 MILLION STG .H1 OPERATING PROFIT 45.7 MILLION STG VERSUS 54.3 MILLION STG YEAR AGO .H1 UNDERLYING PRETAX PROFIT FELL 20 PERCENT TO 38.3 MILLION STG.H1 REVENUE ROSE 4.7 PERCENT TO 1.439 BILLION STG.INTERIM DIVIDEND 1.25 PENCE PER SHARE.NET DEBT AT 30 JUNE 2017 WAS 166.5 MILLION STG.EXPECTATIONS UNCHANGED FOR FULL YEAR.  Full Article

SIG says trading in first half was in line with expectations
Wednesday, 5 Jul 2017 02:00am EDT 

July 5 (Reuters) - SIG Plc ::Trading in first half of year was in line with expectations.HY group revenues from continuing operations increased by 8.1% to 1,417 mln stg.Expects H1 2017 performance to be lower than that achieved in H1 2016 and comparable with H2 2016.HY like-for-like revenue growth showed a marked improvement on H2 2016.For full year 2017 board expects business to show stronger second half.Expects its net debt at 30 June 2017 to be lower than at 31 December 2016 (259.9 mln stg).Improved level of net debt should result in lower seasonal peak in HY leverage and facilitate reduction in leverage in H2 2017, towards target of 1.0 - 1.5x in 2018.  Full Article

SIG sees decline of leverage in H2 2017
Thursday, 11 May 2017 02:36am EDT 

May 11 (Reuters) - SIG Plc ::Trading statement.Group revenues from continuing operations increased 6.5% in period.Currency contributed 5.0 pct to growth in period.Group like-for-like ("LFL") revenues were ahead by 1.4 pct, in line with expectations in period.SIG expects leverage to decline in second half of 2017.Group is targeting leverage to return to its 1.0 - 1.5x range in 2018.Expects its H1 2017 performance to be lower than that achieved in H1 2016, and to be comparable with H2 2016.For full year 2017 board expects business to show a stronger second half, as is usual.Increased supplier price inflation is being seen and there exists political uncertainty in some of SIG's major countries of operation.  Full Article

SIG says Meinie Oldersma to start as CEO on April 3
Wednesday, 29 Mar 2017 02:14am EDT 

SIG : Further to the announcement made on 14 March 2017, SIG confirms that Meinie Oldersma will join SIG on 3 April 2017 and will be appointed a Director of the board and Group Chief Executive with effect from that date. . Mel Ewell, currently Interim Group Chief Executive, will continue to serve as an Executive Director for a handover period following Oldersma's appointment, until 30 April 2017. . With effect from 1 May 2017, Ewell will resume his Non-Executive Director duties. . Leslie Van de Walle, Chairman, has informed the Board of his intention to step down as Chairman and retire as a Director of the Board once a successor has been identified and once Oldersma is established in role. .In order to ensure an orderly succession process, a search and selection process for a new Chairman will now commence..  Full Article

SIG posts FY revenue 2.845 billion stg
Tuesday, 14 Mar 2017 03:27am EDT 

SIG Plc : FY underlying pretax profit 77.5 million stg . Fy revenue rose 10.9 percent to 2.845 billion stg . Final dividend 1.83 penceper share . FY revenue of 2,739.8 million stg versus 2,566.4 million stg year ago . FY underlying operating profit from continuing operations of 91.3 million stg versus 98.7 million stg year ago . FY underlying loss before tax of 106.3 million stg versus profit of 51.3 million stg year ago . We are disappointed with overall financial performance of group in 2016 - CEO . Since Nov we have slowed or stopped a number of internal initiatives, which will allow our team to refocus on customers and sales growth - CEO . Leverage reduction is a key short-term priority, identified a number of actions to strengthen balance sheet, including rebasing of our dividend - CEO . Trading in first two months of 2017 has been in line with board's expectations - CEO .Markets remain competitive and we are experiencing some supplier price inflation - CEO.  Full Article

SIG names Meinie Oldersma as CEO
Tuesday, 14 Mar 2017 03:00am EDT 

Sig Plc : Meinie Oldersma has agreed to join SIG as group chief executive from April .Mel Ewell, currently interim group chief executive, will revert back to being a non-executive director of company.  Full Article

Building materials supplier SIG FY group sales rise 11.2 pct
Friday, 13 Jan 2017 02:00am EST 

SIG Plc : Trading update . Group sales in 2016 were c.2,738 mln stg, an increase of 11.2 pct compared to prior year . Continues to expect that underlying profit before tax for 2016 will be within its previously stated 75 mln stg to 80 mln stg range . Gross margin will be around 30bps lower than prior year . In UK & Ireland LFL sales in year increased 1.1 pct . In mainland Europe LFL sales declined 0.5 pct, with France and Germany down 2 pct and 1.3 pct respectively .2016 was a disappointing year for sig-CEO.  Full Article

SIG H1 underlying pretax profit up 13.6 pct to 45.2 mln stg
Tuesday, 9 Aug 2016 02:00am EDT 

Sig Plc : H1 revenue rose 10.6 percent to 1.375 billion stg . H1 underlying pretax profit rose 13.6 percent to 45.2 million stg . Interim dividend 1.83 penceper share . H1 pretax profit rose 43 percent to 38.4 million stg . With regard to eu referendum, sig observed a slowing of uk construction market activity immediately prior to and following vote . H1 group revenues increased 10.6% to £1.38 billion stg (h1 2015: £1.24 billion stg) . Has a high degree of confidence in achieving its 2016 incremental net benefit targets of at least £10m net savings . Like-For-Like sales in uk were flat in june and july, although there was some improvement in trading as july progressed .Uncertainties caused by referendum have made it more difficult for sig to assess trading outlook.  Full Article

UPDATE 2-UK building distributor SIG says 2016 profit overstated, shares fall

Feb 1 Britain's SIG Plc overstated its 2016 profit by up to 3.7 million pounds ($5.3 million), the building products distributor said on Thursday after a review, less than a month after it revealed an overstatement of cash and trade payables.