January 9, 2018 / 7:23 AM / 10 months ago

BRIEF-SIG Plc says group like-for-like revenues for 2017 were ahead by 4.0 pct

Jan 9 (Reuters) - SIG Plc:

* TRADING UPDATE AND CHAIR OF REMUNERATION COMMITTEE

* GROUP REVENUE FROM CONTINUING OPERATIONS FOR 2017 INCREASED BY 7.5% TO C. £2.8BN

* GROUP LIKE-FOR- LIKE (“LFL”) REVENUES FOR 2017 WERE AHEAD BY 4.0%, IN LINE WITH OUR EXPECTATIONS

* TRADING CONDITIONS IN CONSTRUCTION MARKETS ACROSS MAINLAND EUROPE CONTINUED TO SHOW SIGNS OF IMPROVEMENT

* IMPROVEMENT IN CONFIDENCE IN MAINLAND EUROPEAN MARKETS CONTINUES TO MITIGATE A WEAKER SECOND HALF MARGIN PERFORMANCE IN UK

* OVERALL EXPECTATIONS FOR UNDERLYING PROFITABILITY FOR FULL YEAR REMAIN UNCHANGED

* LFL REVENUES WERE UP BY 2.1% IN UK & IRELAND DURING 2017

* HAS INITIATED A RIGOROUS REVIEW OF CONTROLS AROUND CHEQUE ISSUANCE AND WILL PROVIDE A FURTHER UPDATE AT TIME OF ITS FULL YEAR RESULTS

* CONTINUES TO TARGET A 1.0-1.5X LEVERAGE RANGE DURING 2018 AND IS AIMING TO MAINTAIN LEVERAGE BELOW 1.0X OVER MEDIUM TERM

* IS ANTICIPATING HEADLINE FINANCIAL LEVERAGE OF C.1.9X AT 31 DECEMBER 2017 Source text for Eikon: Further company coverage:

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