Capital Markets Day and October Trading

RNS Number : 7486F

SIG PLC

16 November 2015

 

16 November 2015

SIG plc

Capital Markets Day and October Trading

SIG plc ("SIG" or "the Group"), a leading distributor of specialist building products in Europe, is hosting a Capital Markets Day in London today at 2.30pm.

The key themes of the day are the reshaping of SIG's supply chain, based on a two-step strategy to reduce its cost to serve, and how it intends to grow its value added sales, with a focus on air handling and offsite construction.

The Group is targeting £20m of cost savings from the implementation of step one of its supply chain strategy, and £30m of additional profit from growth in its air handling and offsite construction businesses over the next three years.  Together with ongoing procurement savings, these initiatives provide the Group with a £60m profit improvement opportunity by 2018.

Furthermore SIG believes there is potential for an additional £30m of savings from enacting the second step of its supply chain strategy.

The presentation will be available on www.sigplc.com later in the day.

Trading

On 22 October 2015 SIG released a trading update in which it cited difficult Q3 market conditions, particularly in France and the UK RMI sector. 

Trading improved in October, with positive LFLs in both UK & Ireland and Mainland Europe.  The Group continues to expect underlying profit before tax to be in the range of £85-90m for the full year.

Enquiries

SIG plc

Simon Bielecki, Head of Investor Relations                            + 44 (0) 7515 794359

FTI Consulting

Richard Mountain/Nick Hasell                                                 + 44 (0) 20 3727 1340

 

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