RBC Capital Markets starts SIG at 'outperform'
22nd Jun 2015 13:20
RBC Capital Markets initiated coverage of SIG at 'outperform' with a 250p price target, saying the company is taking important steps to improve its operating performance and drive returns. "We believe SIG is in a position to continue taking market share, improve margins, and has a balance sheet that
Read moreSIG sales hurt by general election uncertainty and weak euro
14th May 2015 13:59
SIG, the supplier of insulation, roofing, commercial interiors and construction products, posted a fall in sales during the first quarter of the year due to foreign exchange movements but said the UK construction market remains robust. Like-for-like sales were flat during the quarter and sales from
Read moreFTSE 250 movers: Keller hit by delays and weak US market, property stocks surge
14th May 2015 12:57
UK stocks rebounded from early losses by mid-afternoon, but recovery remained capped by concerns of Greek instability. Sector-wise, miners and computer services provided the biggest drag, while property stocks and insurers provided a welcome boost. At 2:30 BST, the FTSE 250 was trading 50 points hig
Read moreSIG revenues fall as European markets deteriorate but profits jump
12th Mar 2015 09:04
SIG, the supplier of insulation, roofing, commercial interiors and construction products, said its full-year results were hurt by deteriorated European markets. Revenues fell 3.2% to £2.6bn, but profits before tax jumped to £39m from £2.1m the year before. As a result, earnings per share rose to 5.
Read morePanmure highlights improving newsflow for construction stocks
17th Feb 2015 08:14
Panmure Gordon has maintained an 'overweight' position on UK construction stocks on the back of an improving outlook, as it highlighted SIG as its top pick in the sector. "Architects billings growth (ONS data), project awards data (Barbour Index) and construction employment vacancies point to a heal
Read moreLondon open: Retailers boost market ahead of inflation data, Morrison jumps
13th Jan 2015 08:57
Well-received updates from a host of retailers were giving UK stock markets a boost on Tuesday morning, as investors awaited some key inflation data. The FTSE 100 was up 0.2% at 6,514 early on with Wm Morrison leading the rise. Data due out at 09:30 is forecast to show that the annual rate of consu
Read moreSIG expects 2014 pre-tax profit ahead of consensus
13th Jan 2015 08:23
Building products distributor SIG has said it expects 2014 pre-tax profit to be marginally ahead of market consensus thanks to strong demand in both residential and commercial segments. The company sees annual pre-tax profit exceeding the forecast of £96.5m, which compares to the previous year's £90
Read moreThursday broker round-up.-Update
13th Nov 2014 10:21
AstraZeneca: JP Morgan raises target price from 3700p to 4100p, keeping its underweight rating. AVEVA Group: Barclays upgrades to overweight. Bellway: Credit Suisse raises target price from 1876p to 1905p and keeps a neutral rating. Bow Leven: Barclays shifts target price from 45p to 50p and retai
Read moreFTSE 250 movers: Bwin.party jumps after confirming speculation of 'potential business combinations'
12th Nov 2014 15:17
Bwin.party shares jumped after it confirmed speculation that it has started discussions with various parties about potential business combinations. The company said the talks may or may not result in an offer being made. UK price comparison website firm Moneysupermarket.com cheered after reporting a
Read moreSIG warns of 'slightly lower' profits due to tough European market
12th Nov 2014 08:45
Insulation products supplier SIG said it continued to outperform the market since its interim results in August, but warned full year results would be slightly lower than previously thought due to tough European markets and foreign exchange effects. Like-for-like revenues for the period since 1 July
Read moreFriday broker round-up UPDATE
7th Nov 2014 09:44
AstraZeneca: Deutsche Bank increases target price from 4100p to 4350p and reiterates its hold recommendation. AVEVA: Societe Generale reduces target price from 2250p to 2000p, while keeping its buy recommendation. Big Yellow Group: Citi raises target price from 470p to 540p and maintains its neutra
Read moreThursday broker round-up UPDATE
23rd Oct 2014 08:33
Abcam: FinnCap moves target price from 390p to 400p keeping a hold recommendation. Anglo American: Investec places its target price (prev.: 1603p) under review keeping its buy recommendation. Arbuthnot: Numis raises target price from 1150p to 1300p upgrading from hold to add. British American Taba
Read moreSIG sells stake in Ice Energy Technologies
14th Oct 2014 08:49
SIG, the European specialist building products distributor, has sold its 50.6% stake in Ice Energy Technologies, a renewable energy provider. The existing Ice Energy management team of Andrew Sheldon and Andrew Hillier purchased the stake for an initial cash payment of £1m, together with an earn-out
Read moreFTSE 250 movers: SIG climbs after signing new loan facility
2nd Oct 2014 16:14
SIG rose on the news it has refinanced its £250m revolving credit facility with a new five-year deal with Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland and Commerzbank. The facility matures in October 2019 and the European building products distributor said it will ensure significant
Read moreSIG refinances revolving credit facility
2nd Oct 2014 09:26
SIG has refinanced its £250m revolving credit facility with a new five-year deal with Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland and Commerzbank. The facility matures in October 2019 and the European building products distributor said it will ensure significant funding headroom an
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