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Trading Update and Chair of Remuneration Committee
Trading Update and Chair of Remuneration Committee.
About this update from Sig Plc
[{"type":"text","content":"\n \nRNS Number : 2882B SIG PLC 09 January 2018 \n\n9 January 2018\n \nSIG plc\n(\"SIG\" or \"the Group\")\n \nTrading Update and\nChair of Remuneration Committee\n \nSIG plc (\"SIG\" or \"the Group\"), a leading European supplier of specialist building products with strong positions in its core markets of Insulation & Interiors, Roofing & Exteriors, and Air Handling, today issues a trading update for the year ended 31 December 2017 (\"FY 2017\").\n \nTrading summary\n \nTrading in recent months has been in line with our expectations. Group revenue from continuing operations for the year increased by 7.5% to c. £2.8bn, with currency contributing 3.8% to this growth and acquisitions 0.2%, offset by the effect of fewer working days (0.5)%. As a result, Group like-for-like (\"LFL\") revenues for the year were ahead by 4.0%, in line with our expectations.\n \n \n\n\n\n\nLFL revenue growth\n\n\nH1 2017\n\n\nH2 2017\n\n\nFY 2017\n\n\n\n\nSIGD\n\n\n1.6%\n\n\n5.0%\n\n\n3.3%\n\n\n\n\nSIGE\n\n\n0.3%\n\n\n(3.2)%\n\n\n(1.5)%\n\n\n\n\nIreland\n\n\n4.6%\n\n\n11.0%\n\n\n8.0%\n\n\n\n\nOffsite Construction\n\n\n(2.9)%\n\n\n18.6%\n\n\n6.4%\n\n\n\n\nUK & Ireland\n\n\n1.3%\n\n\n2.9%\n\n\n2.1%\n\n\n\n\nFrance\n\n\n5.0%\n\n\n6.4%\n\n\n5.8%\n\n\n\n\nGermany\n\n\n1.8%\n\n\n7.5%\n\n\n4.8%\n\n\n\n\nPoland\n\n\n9.6%\n\n\n17.3%\n\n\n13.7%\n\n\n\n\nBenelux\n\n\n(4.8)%\n\n\n(4.0)%\n\n\n(4.4)%\n\n\n\n\nAir Handling\n\n\n11.1%\n\n\n10.6%\n\n\n10.7%\n\n\n\n\nMainland Europe\n\n\n4.1%\n\n\n7.3%\n\n\n5.8%\n\n\n\n\nSIG Group\n\n\n2.7%\n\n\n5.2%\n\n\n4.0%\n\n\n\n\n \nLFL revenues were up by 2.1% in the UK & Ireland during 2017, with the revenues of SIGD, the Group's Insulation & Interiors business in the UK, continuing to benefit from industry price increases.\n \nTrading conditions in construction markets across Mainland Europe continued to show signs of improvement, with LFL revenues up by 5.8% during the year, underpinned by strong performances in France, Germany, Poland and Air Handling.\n \nAs part of the ongoing management of the Group's portfolio, during December SIG sold its majority shareholding in its small Air Handling business in Turkey, ATC Turkey, and ceased the processing of insulation product at its Sitaco subsidiary in Poland.\n \nLeverage\n \nLeverage...