Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Insulation and specialist building products distribution group SIG have increased the number of branches they plan to close to 80.
The closures will cost around 1,000 jobs and are expected to save the group around £27m.
SIG’s total sales for the year ending December 31 were £3,040m, up 24% compared with 2007’s £2,455m. Like for like sales grew 6%.
This performance was achieved despite the increasingly challenging trading conditions
in the latter part of 2008 in some of its market sectors and countries of operation,
notably the UK and Ireland.
Total sales for the UK and Ireland, which represents 55% of group sales, increased by 9%, with like for like sales in constant currency 4% lower compared to 2007.
