General Election hits SIG sales

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.

By The Newsroom

Published 14th May 2015, 09:09 BST

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.