General Election hits SIG sales

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​INSULATION giant ​SIG will tell shareholders at its AGM in Sheffield today that ​business slowed in March and April, possibly due to uncertainty ahead of the General Election.

Despite this, the group said the underlying construction market in the UK remains robust.

Like-for-like revenues in the ​first four months of 2015 were flat, consistent with SIG’s ​fourth quarter​ 2014 performance, and compared​ with ​a​ strong ​performance in 2014 when ​like-for-like​ sales ​jumped 9.3​ per cent​.

Acquisitions contributed 2.1 per cent revenue growth, with foreign exchange movements knocking nearly six per cent off sales.

As a result group sales from continuing operations fell 3.6 per cent.

In the UK & Ireland ​like-for-like​ sales ​rose​ 2.8​ per cent, with the UK ahead by 1.3​ per cent​ and Ireland up 20.8​ per cent​.