SIG plc ( (GB:SHI) ) just unveiled an announcement.
SIG plc reported a challenging financial year for 2024, with underlying revenues decreasing to £2.61 billion from £2.76 billion in 2023, and an underlying operating profit of £25.1 million. Despite the tough market conditions, the company made strategic progress in cost reduction and restructuring, which is expected to enhance future profitability. The company also successfully refinanced its debt, extending maturities to 2029, and maintained strong liquidity. SIG’s ‘GEMS’ strategy is driving modernization and specialization efforts, including the launch of a new e-commerce platform in Germany and expansion into specialist markets in the UK. The company is poised to benefit from market recovery, with a focus on improving operating margins and delivering value to stakeholders.
More about SIG plc
SIG plc is a leading pan-European supplier of specialist building products, catering to trade customers across the UK, France, Germany, Ireland, Benelux, and Poland. The company holds significant market positions in specialist insulation, interiors, and roofing products, and is expanding its presence in construction accessories. SIG offers a comprehensive product range, expert technical advice, and complex delivery coordination, serving smaller customers and sites that larger suppliers might overlook. The company employs around 6,700 people across Europe and is listed on the London Stock Exchange.
YTD Price Performance: -26.94%
Average Trading Volume: 1,261,491
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £142.3M
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