Last checked at 16 Nov 2015 07:00
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