16th May 2014 08:14
LONDON (Alliance News) - Building products specialists SIG PLC Friday said group revenues from continuing operations in the first four months of 2014 were up 9.4% compared with the same period in 2013, having benefited from acquisitions, while gross margin was a little ahead of the same period a year ago.
The firm said, on a like-for-like basis, sales increased 9.4% in the first four months of 2014. This contrasts with a decline of 2.6% at the same point last year when compared with the first four months of 2012, SIG said.
SIG, which is holding its annual general meeting this afternoon, said trading in the UK and Ireland continues to be stronger than in mainland Europe, with like-for-like sales up 13%. In mainland Europe like-for-like sales increased 6%.
The company said its outlook is unchanged from that stated when it published its full-year results in March.
"SIG continues to expect to achieve good progress this year based on the trading environment, operational efficiency savings and a modest net benefit from the strategic initiatives," it said.
SIG shares were quoted up 1.6% at 181.90 pence Friday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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