Sheffield Insulations Group (SHI) Q2 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

everyone. And great to see so many people here in the room as well. So welcome to the results for SIG for the first half of 2023. For those of you who don't know me, I'm Gavin Slark. I am the CEO. And I'm joined today by Ian Ashton, who is our group CFO. Our programme for this morning is relatively simple. I will give you just a few opening remarks and a few comments. I'll then pass you over to Ian, who will take you through the detail of the numbers for the first half. And then I shall come back on at the end for a little bit of a business review, looking at some of the individual opcos and also then moving into Q&A. Before we start, I thought it would be just worth spending a moment on my initial views after almost exactly six months of being within SIG as I started on February the 1st. And I think looking at some of the things that I've found over that period of time, First of all, I do believe we've got a really good business platform that's right for long-term growth. We have that natural diversity of geography. We're spread in different geographies. We're operating in different sectors. We have different customer groups and different product types, which means at no point are we overly reliant on one market, one product, or one customer sector. And I think the base that we have today gives us a really good platform in which to grow for the future. Also, reiterating again our conviction in that medium-term 5% operating margin target. And I think although we have got short-term market pressures, that short-term market pressure does not change our view on the medium-term plan and the medium-term 5% margin target. I have found across the group some really good and really talented and committed operational management and people that I'm very, very happy to be workin...