Bunzl in three bolt-on acquisitions
1st Jun 2011 07:20
Insulation specialist SIG is to sell its safety and work wear business to outsourcing firm Bunzl. SIG Safety and Workwear distributes personal protection equipment and work wear to a variety of market sectors throughout the UK. Revenue in the year ended 31 December 2010 was £22m and the gross asse
Read moreSIG expects growth to slow in second half
11th May 2011 15:03
Construction products supplier SIG traded 'in line' during the first four months of the year, with sales growing by 8% on the same period in 2010. However, the firm notes that this was against a weak, weather-affected corresponding period in 2010, and growth has moderated from March as a result of
Read moreWolseley chairman spends £200,000
14th Apr 2011 17:03
Gareth Davis, the chairman of Wolseley, has splashed out nearly £200,000 on shares in the plumbing supplies group. Davis, who took up his post at Wolseley at the beginning of the year after he stepped down as the chief of Lambert & Butler cigarettes maker Imperial Tobacco, took 9,720 shares at 2,14
Read moreFTSE 250 movers: African Barrick rises on Tanzanian success
25th Mar 2011 15:28
African Barrick Gold is a top performer after having further successes with its drilling programme on the Nyanzaga project in Tanzania. Euromoney Institutional Investor, the business publisher and exhibitions organiser, is among the fallers after its pre-close trading update underwhelmed investors.
Read moreBroker snap: Lack of operational gearing at SIG
25th Mar 2011 12:36
RBS stays a 'buyer' of construction products supplier SIG and increases the target price, but highlights a lack of operational gearing as a key concern facing the sector. Full year pre-tax profit was £62.5m, ahead of consensus estimates of £62m, on a like-for-like (LfL) year-on-year sales decline o
Read moreLondon close: Strong end to a strong day
17th Mar 2011 16:49
London's blue chips were strong all day and boosted late on by a strong start in the US where the Dow notched up a triple-digit gain in quick time. For once, investors overlooked the ongoing bad news on the Japanese earthquake and turmoil in the Arab world to hunt out a few bargains. Heritage Oi
Read moreFTSE 250 movers: Heritage Oil rises on rejected offer
17th Mar 2011 15:26
Heritage Oil is wanted after reports in the FT indicated the company has rejected an informal offer of 425p per share from an Abu Dhabi based investor. "This would represent a 47% premium to yesterday's close and a 25% premium to our current target price of 341p," said resources specialist Westhou
Read moreLondon afternoon: Shares kick on as US opens higher
17th Mar 2011 13:57
Share prices kicked on over the lunchtime session, boosted by a firm start on Wall Street, where the Dow has notched up a triple-digit gain in quick time. Though the focus remains on the aftermath of the Japanese earthquake and any response to the turbulence it has caused in the financial markets
Read moreLondon pre-open: Footsie to retake 5,600
17th Mar 2011 07:40
Blue chips are expected to edge high in early trade despite a 1.4% slide in Tokyo. Futures prices indicate an 18-point gain for the FTSE 100 first thing, regaining the 5,600 level. Legal & General is confident, despite a drop in full-year operating profit, as sales rose 28% and the government's de
Read moreGovernment cuts to hold back SIG
17th Mar 2011 07:10
Construction products supplier SIG posted higher profits in 2010 as it recovered from the economic downturn following the 2008-09 global crash, but warned that government cuts will counteract private sector growth this year. SIG, which supplies materials for insulation, roofing and other areas of c
Read moreThursday preview: Legal & General, Premier Farnell, SIG, US inflation
16th Mar 2011 15:22
On Thursday, insurance heavyweight Legal & General issues full-year figures. In a trading update released in November the company said it was on track to beat its £600m cash generation target, having generated net cash of £526m in the first nine months of 2010. It also hinted that the dividend might
Read moreSIG hit by cold spell
13th Jan 2011 12:48
Insulation and construction products group SIG said it was affected by the severe weather in the UK and other parts of Europe in November and December as it predicted total sales for the year will be down. They are expected to be in the region of £2.69bn, a 2% fall from £2.744bn the previous year,
Read moreSIG confident after sales rise
17th Nov 2010 07:49
SIG, a supplier of insulation and construction products, said it is confident of reaching full year profit expectations and posted a modest rise in second half sales. SIG said its end markets had continued to stabilise during the second half with modest like for like sales growth achieved in each o
Read moreWednesday preview: Experian, ICAP, BoE minutes
16th Nov 2010 18:36
Credit checking specialist Experian is set to deliver a solid set of first half results, according to broker Charles Stanley, which reckons pre-tax profit will edge up to $440m from $430m last year. For the first half Experian is targeting mid single-digit organic revenue growth and earnings before
Read moreLondon close: Footsie rises again after strong week
9th Jul 2010 17:07
Footsie finished a very good week on the up again, helped by gains for the miners, life groups and Smith & Nephew. Antofagasta was the stand-out stock in the mining sector after Goldman Sachs issued a "buy" recommendation. Goldman Sach also advocates buying Anglo American ahead of an expected adv
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