• Have a question?
    Open from 8am to 7pm Monday to Friday    Call customer services
    0345 54 32 600


Prices delayed by at least 15 minutes | Print

Sig PLC (SHI)

ORD 10P
Sell: 15.00p|Buy: 15.14p|Change: 0.90 (-5.66%)

This share can be held in a Dealing accountStocks and shares ISALifetime ISAJISASIPPand can be used with Regular investment and Dividend reinvestment

SIG confident in meeting market expectations despite sales drop

(Alliance News) - SIG PLC on Thursday reported a drop in sales during 2024, but anticipates profit in line with market expectations.

The Sheffield, England-based supplier of insulation and building products said like-for-like sales revenue was GBP2.61 billion in the 12 months to December 31. This is 4% lower than the GBP2.76 billion figure reported in 2023.

"Whilst weak demand has continued to be a factor in the majority of the group's markets, reflecting the ongoing softness in the European building and construction sector, LFL performance improved sequentially in H2 as expected, and in Q4 compared to Q3," SIG said.

SIG has predicted full-year underlying operating profit of around GBP25 million, in line with market expectations cited of GBP25.2 million. Full-year revenue is estimated at GBP2.61 billion, down from GBP2.76 billion the year prior.

Cash generation has fallen alongside profit, with year-end gross cash balance projected at GBP87 million versus GBP132 million year-on-year.

The company estimated that restructuring and productivity schemes helped cut year-over-year expenses by GBP31 million. Ongoing cost reduction measures are expected to "drive higher profitability as markets recover", according to SIG.

The company maintained that liquidity is healthy, and that its financial position is more certain, following closure of a refinancing deal in October. SIG added that a GBP90 million revolving credit facility was still undrawn at December 31.

"Whilst we expect continued softness in market conditions, at least through the first half of 2025, we are confident in our ability to manage through this current phase of the cycle, whilst also strengthening our operations," said Chief Executive Officer Gavin Slark.

"We remain ready to take advantage of the significant long-term opportunities for the Group as markets recover."

SIG's full-year results are scheduled for release on March 5.

SIG shares were trading in line with the morning's open at 15.20 pence each at midday in London.

By Holly Munks, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2025 Alliance News Ltd. All Rights Reserved.

AJ Bell Management Limited (company number 03948391), AJ Bell Securities Limited (company number 02723420) and AJ Bell Asset Management Limited (company number 09742568) are authorised and regulated by the Financial Conduct Authority. All companies are registered in England and Wales at 4 Exchange Quay, Salford Quays, Manchester M5 3EE. See website for full details. AJ Bell procures the provision of the Morningstar Licensed Tools on an “as is” basis and does not guarantee the performance of or accept liability for the Licensed Tools. To the maximum extent permitted by law, AJ Bell excludes liability for the Licensed Tools, including liability for any failure, interruption, delay or defect in the performance of any Licensed Tool, unless it arises as a direct result of the negligence of AJ Bell.

© Copyright 2025 AJ Bell. All rights reserved.