Business
Final Results
Final Results.
About this update from Sig Plc
[{"type":"text","content":"\n \nRNS Number : 1990H SIG PLC 09 March 2018 \n\n9 March 2018\nSIG plc: Results for the year ended 31 December 2017\n \nSIG plc (\"SIG\" or \"the Group\"), a leading European supplier of specialist building products with strong positions in its core markets of insulation and interiors, roofing and exteriors, and air handling, today issues its results for the year ended 31 December 2017 (\"FY 2017\").\n \nHighlights\n· Business stabilising, balance sheet strengthening and portfolio being rationalised\n· Underlying revenue +7.4% and LFL2 sales +3.8% (2016: +0.4%). Statutory revenue +1.2% (2016: +10.9%)\n· Underlying PBT of £79.2m (2016: £75.9m) in line with expectations\n· Underlying PBT excluding property profits of £65.5m (2016: £72.6m)\n· Statutory loss before tax of £51.2m after £130.4m of non-underlying items\n· ROCE improved to 10.3% (2016: 10.2%)\n· Underlying basic EPS of 9.8p (2016: 9.7p). Statutory basic loss per share of 10.1p (2016: 20.6p)\n· Final dividend of 2.5p per share in line with 2-3x cover policy\n· Review of medium-term strategy complete - highly disciplined execution now key to delivering significant operational and financial improvement\n\n\n\n\nUnderlying operations1\n\n\n2017\n\n\n2016\nRestated\n\n\nChange\n\n\n\n\nRevenue\n\n\n£2,778.5m\n\n\n£2,587.4m\n\n\n7.4%\n\n\n\n\nLFL2 sales\n\n\n+3.8%\n\n\n+0.4%\n\n\n340bps\n\n\n\n\nUnderlying3 operating profit\n\n\n£94.3m\n\n\n£89.7m\n\n\n5.1%\n\n\n\n\nUnderlying3 profit before tax\n\n\n£79.2m\n\n\n£75.9m\n\n\n4.3%\n\n\n\n\nUnderlying3 profit before tax excl. property profi\n\n\n£65.5m\n\n\n£72.6m\n\n\n(9.8)%\n\n\n\n\nUnderlying3 basic earnings per share\n\n\n9.8p\n\n\n9.7p\n\n\n0.1p\n\n\n\n\nCash inflow from trading\n\n\n£62.8m\n\n\n£95.2m\n\n\n(34.0)%\n\n\n\n\nReturn on sales\n\n\n3.4%\n\n\n3.5%\n\n\n(10)bps\n\n\n\n\nReturn on capital employed (post-tax)\n\n\n10.3%\n\n\n10.2%\n\n\n10bps\n\n\n\n\nNet debt\n\n\n£223.8m\n\n\n£279.7m\n\n\n(20.0)%\n\n\n\n\nHeadline financial leverage (net debt/EBITDA)\n\n\n1.9x\n\n\n2.4x\n\n\n(0.5)x\n\n\n\n\nAlternative performance measures are referred to as \"underlying\" and \"like-for-like\". These ...