SIG plc has released a trading update for the first half (H1) of 2018 and has revealed trading conditions remain mixed across the Group’s markets, with continued confidence across Mainland Europe and Ireland but ongoing challenges in parts of the UK construction sector, particularly commercial new build and RMI markets.
SIG’s revenues from continuing operations during H1 2018 increased by 0.6%. The Group’s like-for-like (“LFL”) revenues in the UK & Ireland were down by 3.1%, reflecting the adverse impact from poor weather conditions earlier in the year. The Group’s businesses across Mainland Europe continued to perform well, with LFL revenues up by 2.9% during the first half of the year.
The trading update said the Group should deliver a significantly stronger second half and that providing there is no further deterioration in UK market conditions, profitability was in line with expectations.