Materials giant passes 拢1bn half-year turnover for the first time

Materials supplier SIG has announced a first half pre-tax profit rise of 23.3%, following acquisitions in the UK and Europe.

The specialist supplier said profit hit 拢56.2m for the six months to June, up from 拢45.6m in the same period last year.

The company said total sales rose 29.2% to 拢1.09bn, while mainland Europe showed particularly strong growth with sales increasing 53.4% to 拢376.6m.

SIG chairman Les Tench said: 鈥淭he group has achieved excellent progress in the first six months, with strong like-for-like increases in all countries and business streams and a step-change in the breadth of the group鈥檚 activities with a total of 146 branches added so far in 2007.鈥�

He added that an interim dividend increase of 29% was an indication of the firm鈥檚 confidence for the future.

SIG has bought 22 companies so far this year including French roofing materials distributor Lariviere.

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