SIG sales seal good start to '08
Insulation and roofing supplier SIG has continued its encouraging start to 2008, with sales in the period to 13 May up around 25% on the year before, or by 4% on a like for like basis.
Insulation and related sold particularly well in the UK thanks to increased demand driven by government regulations for new buildings and by the introduction of the Carbon Emissions Reduction Target Scheme in April.
There was modest growth in construction and building activity in the UK over the previous year, but a significant decline in Ireland, which accounts for 5% of group sales.
SIG said demand from non-residential building and industrial sectors, responsible for around two thirds of group sales, has remained robust across all regions.
(Article continues below)Advertisement
But in the residential sector, which accounts for the rest, residential new build and parts of Repairs, Maintenance and Improvement (RMI) are weaker than in 2007, especially in Ireland.
Meanwhile, trading has been "good" in mainland Europe, which accounts for 41% of total sales, with like for like sales better than 2007 on a constant currency basis.
The company has benefited "significantly" from the strength of the euro when converted back into sterling.
