Sheffield-based insulation giant SIG delivers record performance in France and Poland

Insulation giant SIG said it had returned to underlying profit in 2021, driven by market share gains and margin discipline in challenging supply markets.

The Sheffield-based company said it was trading well so far in 2022 and its supply challenges were being managed. During 2021, SIG delivered a £41.4m underlying operating profit.

Steve Francis, the chief executive, said: " 2021 was a pivotal year - accelerating progress on our strategy has returned the group to profitability ahead of expectations, delivering above market growth rates and consistent margin improvement, the result of record performance in France and Poland, and strong turnaround in the UK."

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"In uncertain times, SIG demonstrated in 2021, as it has in previous decades, its ability to manage successfully through inflationary and volatile market conditions, thanks to our strong relationships with suppliers and customers, and the quality of our people."

Insulation giant SIGSIG said it had returned to underlying profit in 2021, driven by market share gains and margin discipline in challenging supply markets.

"Growth momentum, resilience of our businesses, and experienced leadership all underpin our confidence in the organic growth path towards 5% underlying operating margin in the medium term."

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"I'm proud that SIG has a long-established focus on energy efficient solutions, and we will play a leadership role in the shift to sustainable construction."

"SIG is back to winning ways, and we look forward to 2022 and beyond with confidence."