黑洞社区

Interiors company SIG saw a slight drop in revenue during 2010 which it partly blamed on the freezing conditions during both winters in the year.

Revenues dropped 2% from 拢2.72bn in 2009 to 拢2.67bn in 2010.

Pre-tax profit edged slightly up, rising 3% to 拢62.5m. Yet taking into account extraordinary items, such as the firm鈥檚 restructuring costs, SIG actually made a loss of 拢76.8m, significantly more than its 拢45.1m loss in 2009.

Most this loss was down to ballooning impairment charges which rose almost 拢50m to 拢80.4m for the year. Restructuring costs also contributed 拢21.8m.

Chris Davies, chief executive, said freezing weather during 2010 had hit the company.

鈥淭he group experienced extreme winter weather conditions in all its geographies in the first quarter of 2010 which affected construction site activity and consequently demand for SIG鈥檚 products and services.  Harsh weather was also a feature of the fourth quarter, with trading in December disrupted by what, in many of our territories, were the coldest temperatures for more than a century,鈥� he said.

SIG also announced they had secured a new 拢250m four year revolving credit facility with four banks.