10th May 2006 07:00
SIG PLC10 May 2006 AGM Trading Statement 10 May 2006 SIG plc, the leading supplier of insulation, roofing, commercial interiors andspecialist products to the construction and building industries, is holding itsAnnual General Meeting today, 10 May 2006. David Williams, Group Chief Executive, will be making the following statementconcerning trading. "Trading in the first four months has been positive, with like for like growthin sales in all three geographic regions in which SIG has trading operations,the UK and Ireland, Mainland Europe and the USA. Market conditions have beenbroadly as anticipated at our 2005 preliminary results announcement on 9 March2006. In the UK and Ireland, progress has been made in insulation, commercialinteriors and specialist construction. In roofing, the reduction in marketdemand which we reported in March has continued, making trading conditionsdifficult in this product sector. In Mainland Europe, continued progress has been made in France, Poland andBenelux, but in Germany market conditions have not been helpful, with demandstill subdued. In the USA, the strong momentum evident throughout 2005 has continued, driven byincreased demand for industrial insulation. To date this year, we have completed 4 small bolt-on acquisitions, and thesetogether with additional brownfield branch openings have increased the branchnetwork by 10 since 1 January 2006, taking the total number to date to 506. This encouraging start to the year gives the Board confidence that furtherprogress will be made. " * Like for like is defined as the business excluding the impact of acquisitionsmade since 1 January 2005. The number of working days in January to April 2006was the same as the corresponding period in 2005. Enquiries: SIG plc 0114 285 6300David Williams, Group Chief ExecutiveGareth Davies, Finance Director Finsbury 020 7251 3801Faeth BirchGordon Simpson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SIG