SIG plc has reported in its Interim Management Statement that trading conditions since 1 January 2013 have remained challenging. The distribution giant says that it outperform its markets in the first quarter of 2013 by around 2%.
Group sales per day from continuing operations fell by c.2.5% in Sterling and by
c.4.0% in constant currency for the first four months compared to the same period
In Mainland Europe sales per day in constant currency for the first four months were
down by c.4.5%, with France and Germany both down by a similar amount. In the
UK & Ireland sales per day fell by c.1.0% excluding SIG Energy Management, which,
as anticipated, has been significantly impacted by the ending of CERT and slow
start-up of the Green Deal.
Trading improved from mid-April onwards as the weather conditions reverted to
seasonal norms, with Group sales per day for April marginally ahead of last year in
The combination of challenging markets and harsh weather in the first four months of
the year is expected to affect SIG’s first half performance adversely, as the Group
does not anticipate that the shortfall in sales to date will be fully recovered in May
SIG plc is holding it’s Annual General Meeting on 23 May 2013.