SIG plc ( (GB:SHI) ) has provided an update.
SIG plc reported a challenging yet resilient performance for the fiscal year 2024, with revenues of £2.61 billion, reflecting a 4% decline in like-for-like sales. Despite weak market demand in the European construction sector, the company achieved significant cost reductions and productivity gains, expected to result in an underlying operating profit of approximately £25 million, aligning with market expectations. The company successfully refinanced in October 2024, ensuring funding certainty, and is prepared to capitalize on future market recovery.
More about SIG plc
SIG plc is a prominent supplier of specialist insulation and building products, serving markets across Europe. The company focuses on delivering a range of construction materials to meet the demands of the European building industry.
YTD Price Performance: -3.76%
Average Trading Volume: 1,581,611
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £186.9M
For a thorough assessment of SHI stock, go to TipRanks’ Stock Analysis page.