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SIG has maintained its strong financial position and remains on track to meet its target of around 1x leverage at the year end. Looking forward, the company believes it is on track to meet full year expectations.
Building materials distributor SIG has said that trading since July 1st has been in line with expectations, with the overall gross margin remaining ahead of the same period last year. However, the company continues to expect the rate of improvement for the full year to be lower than the 50 basis point increase reported in the first half and said that, as expected, market volumes have declined slightly throughout the year. Sales per day from continuing operations for the ten months to the end of October were flat on a constant currency basis, while sterling sales per day declined by around 4% compared to the prior year, due to exchange rate movements. In the year-to-date, sales per day in mainland Europe grew by about 2% in constant currency, but dropped by around 6% in sterling. Benelux and France showed the strongest progress, while Germany was marginally lower. In the UK & Ireland sales per day from continuing operations fell by about 2% in constant currency, with the UK down by around 1%. "Following some improvement in constant currency sales per day in Q3 compared to Q2 on a year-on-year basis, October was slightly negative, meaning that July to October was flat compared with prior year," the group said.
Mark Light, an executive at Signet Jewelers, reduced his stake in the retailer on Friday with the sale of 25,000 shares, the company announced on Monday. The shares, which were priced at 2,857.59p, were sold for a total of £714,398. Following the transaction, he still owns a total of 44,941 shares. Light, who joined Signet back in 1978, become the Chief Executive of the company's US division back in January 2006, having been President and Chief Operating Officer of the unit from 2002.
Building products distributor SIG is another company which, like M&S, will not have appreciated Britain's miserable run of weather, and the decline in the value of the euro will not have done it any favours either. "Volatility is set to remain a feature of SIG due to the relatively diverse product and geographic base of the group?s operations," reckons Northland Capital Partners. "We expect the first half of 2012 to be a relatively weak period of sales recovery in continental markets but with little momentum. The leaner and fitter structure can at least offer a better operational gearing on any revenue growth. SIG's management is implementing a logical strategy of cash conservation (net debt down to £120m at end December 2011) and improved cost structures across all operations," the broker adds.
just came up on my system: http://theartofstockpicking.blogspot.co.uk/
Sorry wrong board
Government cuts to hold back SIG By Rory Gallivan Date: Thursday 17 Mar 2011 LONDON (ShareCast) - Construction products supplier SIG posted higher profits in 2010 as it recovered from the economic downturn following the 2008-09 global crash, but warned that government cuts will counteract private sector growth this year. SIG, which supplies materials for insulation, roofing and other areas of construction, posted an underlying pre-tax profit of £62.5m for the period, up 3.1% from the previous year, on revenues that slipped 2% to £2.67bn. SIG was hit by bad weather at either end of 2010 and described the pattern of recovery as uneven in different markets. Britain, France and Germany, SIG’s major markets, saw residential construction levels improve from a low base. While revenues were lower over the full year, SIG said that the second half saw an improvement from the same period the previous year. “The board expects to see 2010's modest growth trend in residential building continuing in 2011 and the decline in private non-residential construction levelling out in H1 2011,” said chairman Leslie Van de Walle. “However, government expenditure cuts are expected to cause public sector new construction activity to decline as the year progresses, counteracting mild growth in the private sector, particularly in the UK.” Trading in the first two months of 2011 was in line with expectations and much better than the same period last year, much of which was affected by extreme winter weather.
Can anyone tell me where on this website you can find when a company is going ex div? I am trying to find detals for signet but cant see it. Thanks folks.
1 for 20 reverse consolidation
what is happening here????
http://ww7.investorrelations.co.uk/signet/regulatorynews_item.jsp?ric=SIG.L&ref=297 .. other than that , why the SP is showing what it is I have not a clue, maybe short it?
i.e 1 to a 1000 or something
wish i was in on this
Anyone that has share in this must be making a fortune. Does that comment include you Bluey2?
weird
someone has just bought 1.5 mill @ 61.75. How nice and cheap for them.... Hope this means better things in store for Monday. Have a good weekend all :-)
what has gone wrong today??