Highlights

  • Full year underlying operating profit guidance remains GBP 31.6 million
  • SIG reported flat Q3 like-for-like revenue, maintaining year-to-date growth of one percent.
  • UK Interiors segment grew five percent in Q3, supporting overall UK revenue increase.

SIG plc (LSE:SHI), a European supplier of specialist insulation and building products, reported flat like-for-like (LFL) revenue for Q3 ending 30 September 2025, maintaining a year-to-date growth of 1%. Despite subdued demand across European construction markets, the Group delivered on cost efficiency and working capital objectives. Pricing pressures offset modest input cost inflation, resulting in a net 1% reduction in pricing during the period, consistent with H1 trends.

Regional Performance

In the UK, the Interiors segment grew LFL by 5% in Q3, driving overall UK growth of 1% despite challenging market conditions. UK Roofing declined 1%, while UK Specialist Markets fell 3%.

Across Europe, France Interiors and Roofing each declined 2% in Q3, improving relative to H1 performance. Germany experienced a 5% LFL decline, while Poland achieved 8% growth. Benelux grew 2%, and Ireland declined 11% in Q3 but remained up 4% year-to-date. Overall EU LFL sales decreased 2% in Q3.

Operational Initiatives

The Group continues to implement cost and working capital efficiency measures. The UK Interiors and Benelux businesses benefit from self-help programs started in 2024, including material cost management and initiatives to improve top-line performance.

Outlook

SIG maintains its full year underlying operating profit outlook in line with market expectations. Productivity and cost initiatives remain key to profit forecasts.

CEO Pim Vervaat commented:
"I have been impressed with the energy, commitment and knowledge of the many people I have met across the Group so far. I am also pleased to see the robust trading performance in continued difficult market circumstances, and the strong focus of the teams on managing both costs and working capital. I look forward to working with the Board and the management teams in driving substantial value over time, and to sharing my initial views early in 2026."

Financial Summary

Group LFL sales for Q3 reached GBP 664m, flat versus prior year, while year-to-date LFL sales were GBP 1,968m, up 1%. The full-year underlying operating profit expectation remains GBP 31.6m, within a range of GBP 30m–35m.

Share performance

The company is currently trading at GBX 9.22, slightly up by 1.5% from its previous close of GBX 9.08.