PRESS
RELEASE
14 March 2007
PRELIMINARY RESULTS FOR YEAR ENDED 31 DECEMBER 2006
SIG plc is the leading specialist supplier of insulation, roofing and commercial interiors products in
Europe.
·
SIG reports record sales and profit in 2006.
·
Each country in which the Group operates achieved sales and underlying* operating profit growth
on a like for like basis (i.e. excluding the impact of acquisitions made in 2005 and 2006).
·
Total ** sales increased by 17.4% to £1,925m (2005: £1,639m).
·
Continuing (i.e. excluding the USA) sales increased by 18.4% to £1,860m (2005: £1,571m). Like
for like sales growth was 7.1%.
UK and Ireland sales increased by 14.2% to £1,254.4m (2005: £1,098.1m).
o
Mainland Europe sales increased by 27.9% to £605.5m (2005: £473.4m).
o
·
Underlying operating profit from continuing operations increased by 22.5% to £121.4m (2005:
£99.1m).
UK and Ireland underlying operating profit increased by 18.4% to £99.9m (2005: £84.4m).
o
Mainland Europe underlying operating profit increased by 40.6% to £27.6m (2005: £19.6m).
o
·
Total underlying profit before tax increased by 18.8% to £112.0m (2005: £94.3m), slightly above
analyst consensus figures.
·
Profit before tax from continuing operations increased by 22.6% to £102.7m (2005: £83.8m).
·
Total underlying basic earnings per share increased by 20.3% to 63.4p (2005: 52.7p). Continuing
basic earnings per share increased by 28.5% to 58.1p (2005: 45.2p).
·
Dividend per share for the year increased 22% to 20.5p.
·
The Group made 23 acquisitions during 2006. Annualised sales (on a historic basis) for these
acquisitions was £240m. Total consideration, including assumed debt, was £109m.
* - Underlying means excluding the effect of amortisation of acquired intangibles, impairment of
goodwill, profit on sale of USA business and hedge ineffectiveness.
** - Total means including the USA business. The Group sold its USA business on 20 November
2006 for cash proceeds of £27m. Sales in the USA accounted for 3% of the Group's sales up to the
time of its disposal.
Les Tench, Chairman, commented:
"The Group has made excellent progress during 2006; the strategic disposal of the USA combined with
the continued expansion and diversity of the trading activities in the two core regions of UK and Ireland
and Mainland Europe lay the foundations for the future growth and development of SIG.
In terms of growth opportunities, we enter 2007 with a healthy pipeline of opportunities, both organic
and through acquisition. Trading since the start of 2007 has been good, and the Group is confident
that further progress will be made."
Enquiries:
David Williams, Chief Executive
SIG plc
today
020 7251 3801
Gareth Davies, Finance Director
thereafter
0114 285 6300
Faeth Birch / Gordon Simpson
Finsbury
020 7251 3801
Full Preliminary Results information is available on www.sigplc.co.uk. An interview with David Williams, Chief Executive is now available on
SIG's website and www.cantos.com
SIG's website and www.cantos.com