Insulation and roofing specialist sees rise in profit for 2007 as drive to reduce energy consumption comes into play
Insulation and roofing specialist SIG has posted a 29% jump in pre-tax profit to £140.1m for the year ended 31 December 2007.
Turnover rose 32% to £2.5bn from £1.9bn on the back of the global drive to reduce energy consumption.
The figures were ahead of most analysts’ expectations and are expected to be good in coming years as its core insulation materials business grows ahead of the rate of construction output as part of the government’s green push.
Chairman Les Tench said: “The Group's sales are more heavily weighted towards non-residential construction, both in the UK and Ireland and in Mainland Europe, and it is believed that the substantial pipeline of work in progress of both public and privately funded construction programmes will continue to provide the Group with attractive opportunities in its four main product sectors.”