SIG plans to open network by mid-May

SIG is responding to growing demand across the construction industry by re-opening sites across its Distribution and Roofing businesses. It is planning for the majority of its network to be open by mid-May.

At the start of the lockdown period across the construction industry, SIG closed the majority of its UK operations. Except for six sites in Edinburgh, Manchester, Birmingham, Bristol, Rayleigh and London. These were able to serve critical and emergency projects for the NHS, and the energy and food sectors.

As demand has started to increase across the industry, the Group commenced re-opening selected sites across its businesses. 15 sites are now open across our Distribution business and 20 sites are open across our Roofing business. The Group said it is currently planning for the majority of its sites to be open by mid-May.

In this morning’s statement SIG said: “In preparation for the lifting of UK Government restrictions, we are regularly reviewing operations and considering the measures we will require to ensure the safe return of our employees and a return to fully operational businesses across the UK.”

All sites across France are open and trading has gradually increased during April as French Government guidelines have encouraged more customers to resume trade. In most other countries SIG operations have continued on a near-to-normal basis in Germany, Holland and Poland, all within local government guidelines in each country.

However, in Ireland sites have remained closed, except for a small number of sites supporting critical and emergency projects. As in the UK, SIG is planning for the majority of Irish sites to be open by mid-May.

Financial performace

In a trading update SIG said it had strengthened cash control measures, it held cash of £142m and remains in dialogue with its lending group in order to release additional liquidity as required. All discretionary spending has stopped.

SIG confirmed that there is no change to its guidance for underlying profit before tax for the year ended 31 December 2019 of c.£42 million (2018: £74m).

The Group has accessed the UK Government’s Coronavirus Job Retention Scheme. It has furloughed approximately 2,000 employees across its sites and support functions.

SIG also appointed SIG has appointed Philip Johns as SIG UK Managing Director.  Mr Johns previously worked at SIG for over 28 years in a number of senior leadership roles. Johns re-joins SIG from his most recent position as Chief Commercial Officer with IBMG Group.

Read more related stories here.