LONDON (dpa-AFX) - SIG Plc (SHI.L), a distributor of specialist building products, reported that its profit before tax for fiscal year 2015 increased 31.5% to 51.3 million pounds from the previous year's 39.0 million pounds, mainly due to a reduction in amortisation of acquired intangibles, and the prior year including costs associated with the sale of businesses, offset by business termination costs.
'Following an encouraging start to the year, with positive LFLs in both the UK & Ireland and Mainland Europe, the scope for further cost savings and growth opportunities within the Group mean that it expects to make progress in 2016,' the company said.
Profit attributable to Equity holders of the company for the fiscal year 2015 rose to 36.0 million pounds from 33.0 million pounds in the prior year. Earnings per share increased 8.9% to 6.1 pence from 5.6 pence in the prior year.
Underlying operating profit declined 11.2% year-over-year to 98.7 million pounds, impacted by movements in foreign exchange rates and weak trading conditions.
Revenues from continuing operations decreased 1.4% year-over to 2.566 billion euros, adversely affected by foreign exchange translation, with the average Euro to Sterling exchange rate depreciating by 10.9% to 1.383 euros in 2015 from 1.247 euros in 2014. Group sales increased 3.7% in constant currency and were ahead by 0.3% on a like-for-like or 'LFL' basis, with acquisitions contributing 3.4% to revenue growth.
The Board has proposed a final dividend of 2.91pence per ordinary share. Together with the interim dividend of 1.69pence, this provides a total dividend of 4.60pence for the year, an increase of 4.5%. The final dividend is expected to be paid on 27 May 2016 to shareholders on the register at close of business on 29 April 2016. The ex-dividend date is 28 April 2016.
Copyright RTT News/dpa-AFX