Insulation supplier sees sales rise 16% as all sectors exceed expectations.
SIG plc, the insulation and roofing supplier, says its underlying pre-tax profit is likely to exceed expectations and rise 33% to 拢94m. An increase of 16% 鈥� including the impact of acquisitions made in 2004 and 2005 鈥� brings the total sales figures for 2005 to be in excess of 拢1.6bn.
Trading in the second half of the year was particularly strong, with better than expected like-for-like performances in each of the group鈥檚 geographical areas.
UK and Republic of Ireland sales rose approximately 20% in 2005, while in mainland Europe they rose 9%. In the United States sales increased 16%, with demand swelling as the reconstruction of power facilities following the damage inflicted by Hurricanes Rita and Katrina began. Worldwide, the group made 21 acquisitions totalling 拢110m, including assumed debt.
Looking forward to 2006, SIG said that it did not expect any significant changes in the markets in which it operates. It said it was confident of a modest improvement of demand as the number of health, education and other major construction projects continue to grow.
