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Trading statements

SIG Plc says FY 2017 trading started in line

11 May 2017 07:21

SIG said that for FY 2017 its board expected the business to show a stronger H2, as was usual, with the year having started in line with expectations.

"Some increased supplier price inflation is being seen and there exists political uncertainty in some of SIG's major countries of operation," said SIG.

It said the group would continue to focus on driving improved customer service and operational performance in competitive markets.

Group revenues from continuing operations increased 6.5% in the period Jan. 1 to April 30, with currency contributing 5.0% to growth, acquisitions 0.7%, offset by fewer working days (0.6) %.

As a result, Group like-for-like (LFL) revenues were ahead by 1.4%, in line with expectations.

SIG said it had recently closed Metechno, the offsite manufacturer of bathroom pods and utility cupboards contained within its Offsite Construction division, given its sub-scale nature in what is an increasingly competitive and commoditised market environment.

"The Group has also taken the decision to close its small scale Austrian operations and is in the process of winding these down."

Story provided by StockMarketWire.com

Related Company: SHI

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