SIG Plc has reported a solid performance for the first half of the year, despite ongoing challenges in the construction market. For the six months to June 30, the Sheffield-based supplier saw a modest increase in like-for-like sales, up by 1% year on year to £1.304 billion. Like-for-like volumes also grew by 2%. However, revenues fell by 1%, impacted by working days, exchange rates, and branch closures.
The company posted a 31% increase in underlying operating profit, rising to £15.4 million from £11.7 million. Underlying EBITDA also improved to £54.1 million, up from £51.6 million. Despite this, SIG’s net assets decreased by £31.7 million, standing at £148.1 million at the end of June.
While demand across SIG’s markets remains below historical levels, the company’s UK Interiors and Roofing businesses have performed well, with both segments showing notable improvements. The German and French businesses are also maintaining resilience, albeit in tough market conditions.
The firm is maintaining its 2025 outlook, citing the ongoing implementation of strategic and operational changes. SIG also confirmed that Pim Vervaat will take over as CEO and Chair designate on October 1, following Gavin Slark’s resignation in May. Vervaat will eventually transition to the role of Chair in 18 months.
