SIG reduced its 2017 interim dividend by 31.7%

DividendMax Ltd.

SIG reduced its 2017 interim dividend by 31.7%

Highlights

Revenue +8.6% and LFL sales +2.8%; Mainland Europe +4.3% and UK & Ireland +1.3%

Underlying PBT, excluding property profits, of £30.1m, in line with guidance

Underlying PBT of £38.3m including underlying property profits

Statutory loss before tax of £10.7m after £49.0m of non-underlying items

Strong focus on cash resulted in a £93.4m reduction in net debt and leverage down to 1.6x

Disposed of UK Building Plastics business since period end for up to £20.3m

Review of Group strategy underway; intend to report progress in Q4 2017

Interim dividend of 1.25p per share in line with rebased cover ratio

Expectations unchanged for the full year

Companies mentioned