LONDON (dpa-AFX) - Specialty building products supplier SIG plc (SHI.L) reported Wednesday that its fiscal 2022 profit before tax was 27.5 million pounds, compared to last year's loss of 15.9 million pounds.
Basic earnings per share were 1.3 pence, compared to loss of 2.4 pence per share last year.
Underlying profit before tax was 51.6 million pounds, compared to prior year's 19.3 million pounds. Underlying earnings per share were 3.2 pence, compared to last year's 0.3 pence a year ago.
Revenue for the grew to 2.74 billion pounds from prior year's 2.29 billion pounds. Like-for-like sales growth was 17 percent.
Regarding the current trading, SIG Plc noted that trading in the first two months of 2023 saw mid-single digit like-for-like revenue growth, with the continued effects of input price inflation more than offsetting year-over-year volume declines.
Overall, the company expects weaker demand conditions to prevail during 2023.
Separately, SIG announced that Christian Rochat, one of the two Directors appointed by CD&R Sunshine S.À R.L, informed that he does not intend to stand for re-election at the Annual General Meeting on May 4.
CD&R served notice on the Company that it intends to nominate Mr Diego Straziota for appointment to SIG's Board at the AGM.
In London, SIG shares were trading at 39.40 pence, down 6.2 percent.
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