Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
The claim that the poor figures are due to "challenging market conditions" is a euphemism. How come their competitors are growing?
"Improve productivity and cost structure"? SIG has done nothing else in the last 5 years, reorganized and saved. As a result, many employees with knowledge and experience have closed the door of SIG. That works like a boomerang because they now work for their competitors (including myself).
SIG has cut back so much on everything that in practice they do not have the necessary resources for the essence: serving their customers. They sometimes even sell at a loss, but turnover alone cannot buy bread.
My prediction: in 2025 or 2026 they will have to divest their activities on the mainland and focus on the UK and Ireland. I don't know what that will do to the share price.
He is proving to be a donkey
The note below was posted when Gavin Slark joined the group. Looking to build on the platform left by Steve Francis he has instead overseen a 40% fall in the share price over the past year, way over that of any comparable business in the sector. The biggest faller in the first quarter is the biggest business, the UK interiors operations. I really do question when, after almost 18 months in the role, we are actually going to see some results or at least a plan from his tenure. CDR - are you there?
We welcome Gavin Slark, who joins the business today (1 February 2023) as our new Chief Executive Officer (CEO) of SIG plc with a focus on ‘continuing SIG’s journey of growth’.
Taking over from Steve Francis, Gavin has a proven track record of delivering shareholder value in the pan-European construction distribution industry, having led Grafton Group plc for the last 11 years.
Gavin said: “I am excited to have joined such an established name as SIG and a great team of people!
I look forward to building on the significant progress made by Steve Francis and the team and harnessing the opportunities ahead of SIG, to the benefit of all of our stakeholders.”
Expected? What’s everyone’s opinion
Who would won’t to take over this crap…awful performance inS.P Bring back Steve Francis
Or nothing! Cannot see anything else happening.
Subject says it all
Thanks for posting! Posts are becoming a "collectors item".
I cannot work out what CD &Rs gameplan is. What will move SP? The longer it stays low, the more likely a low bid will be accepted?
A perennially disappointing share. Why do I fall for these recovery stories? Three years and waiting...
In the results they say it's a key element of their strategic plan "to drive operating margin growth over the medium-term to our target of 5%". Says it all really. A low quality business in a tough sector. Whoops!
They have another 1% to go before they have to bid for whole lot
Hi there, you got skin in the game with sig?
I have and bought back in 2019. Still way up but agree, perhaps the ceiling has been reached.
Didn’t expect to pull it back by end of the day, sitting at 30p again… for now
This is exactly what I have been predicting for 3 years.
SIG is a distributor of building materials (including insulation) that has run into financial problems due to incorrect policies. They have no money to build a workable stock. They no longer have the added value they used to have (knowledge, stock, etc.) due to successive reorganizations and management changes. That's why they have to drop their pants to their ankles to be able to sell anything.
It is not due to "challenging market conditions". After all, their competitors are doing well.
The next step will be to divest all their activities on the mainland (2025?) to have capital back. Whether that will yield a dividend remains a question.
Kingspan is a manufacturer. SIG is a distributor.
That would be true if CD & R were not largest shareholder.
Hopefully we get a pay out worthy if that happened
Heading for the breakers yard
No government's going to be in a position to fund a insulation programme. Its now cheap enough to buy and split up for a quick profit .
Yes - pretty poor results but possibly hitting a floor soon. In contrast Kingspan share price doing nicely, when they blocked the bid it suggested that SIG was in a non-competitive market, the results don't reflect that.
And they're out!
Nothing special. Just plodding along. I've held this share for nearly 4 years now and it's been a perennial disappointer. Year after year management drones on about executing their 'recovery strategy', which never seems to makes any progress. Another year with no divi, so we're not even being paid to wait.
My patience is at an end. If it looks like a dog, acts like a dog and sounds like a dog, it is a mangey dog! Onto the cull list Sig goes. Just waiting for an opportunity, I'm so ready to move on.
Well if today’s price action is anything to go by - looks very much like another cautious statement is in the offing for tomorrow. Been too long a wait here for the climate to improve & the divi to return. Fingers crossed I’m wrong but can see 28p at this rate. Only hope is the summer building boom kicks in
If it is concluded worse is over SP can get over 40p quickly. From there all about possible takeover by CD & R. If they feel they can get the lot for starting bid of 60p which will be rejected, an improved bid of 75p would probably do it. Other than that, we will not get to 75p for years, hope I'm wrong!!
Probably won’t be too good but it’s starting to pick up abit on site now so hopefully future is looking okay
COLD FEET!!
Down nearly 5% now