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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Sig Plc | SHI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.15 | 0.57% | 26.65 | 08:08:57 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 26.65 | 26.65 | 26.65 | 26.50 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Top Posts |
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Posted at 09/9/2022 11:02 by elongate Grafton loss, Shi gain.Grafton shares tumble as chief executive Gavin Slark reveals exit plans after transformational tenure * Gavin Slark joined the Dublin-based company from BSS Group 11 years ago * Among the acquisitions he had overseen while in charge include Leyland SDM * In recent years, Slark has helped lead Grafton through the Covid-19 pandemic By HARRY WISE FOR THIS IS MONEY PUBLISHED: 15:51, 4 July 2022 | UPDATED: 17:04, Building materials supplier Grafton Group has announced that its boss will stand down at the end of the year after more than a decade in charge. Gavin Slark joined the Dublin-based firm as chief executive in 2011 following a five-year spell holding the same position at plumbing and heating products distributor BSS Group, where he oversaw its £557.6million sale to Travis Perkins. During his tenure at Grafton, he has steered the retailer through a dramatic transformation, making numerous acquisitions in the UK and overseas, such as stair contractor Stairbox and decorating retail brand Leyland SDM. The company also transferred its primary stock market listing from the Irish capital to London, expanded into the Nordic region and sold off its traditional merchanting arm in Britain to Huws Gray. In recent years, Slark has helped lead the firm through the Covid-19 pandemic, which initially caused some downturn in trade as a result of store closures across the British Isles before recovering very strongly as lockdown restrictions were loosened. The Sunderland-born boss said the choice to leave was made 'with a heavy heart,' but added he was 'confident that this is the right time for a new CEO to lead the business as Grafton embarks on its next phase of growth and development. 'I remain very committed to the leadership of the business over the next six months and to working towards a smooth transition to my successor.' Last year, Grafton posted its highest ever annual profits of £341.2million thanks to exceptional performances from its Northern Irish distribution business MacBlair, DIY brand Woodie's and Selco Builders Maintenance. Alongside this, overall revenue climbed by around a quarter due to prices of building materials in its British Isles distribution segments being driven higher by supply chain disruption. This happened in tandem with low interest rates, strong mortgage demand, and a temporary stamp duty holiday introduced by the UK Government in July 2020 boosting demand for property renovation and new housebuilding. Trade has continued to be positive since then, with total revenue between 1 January and 17 April up 15 per cent from the equivalent period last year. The retailer has also announced a share buyback programme worth up to £100million. Chairman Michael Roney remarked that Slark 'has made an outstanding contribution to Grafton and provided exceptional leadership over the past eleven years. Under his stewardship, the group has further extended its geographic footprint and has been transformed into a portfolio of higher quality and higher returning businesses with excellent market positions and strong growth prospects.' Markets reacted negatively to news of his departure, with Grafton Group shares tumbling 7.7 per cent to 721.6p on Monday, making it the second-biggest faller on the mid-cap FTSE 250 Index today. AJ Bell investment director Russ Mould said: 'The sign of a well-respected business leader is when the share price sinks on news of their departure. That’s happened with Grafton after Gavin Slark handed in his notice after 11 years at the top. 'He’s helped to sharpen the company’s focus and expand geographically, breathing some life into the business, and that’s why investors are disappointed he is now leaving.' |
Posted at 09/8/2022 17:01 by elongate Investors Chronicle has a misjudged hand in that. |
Posted at 09/8/2022 16:41 by elongate That article by Investor’s Chronicle says,‘ Although a near-doubling of adjusted cash profit meant its leverage ratio fell to 3.0 times, from 3.9 times at the end of last year, the danger for investors is that as interest rates continue to tick higher, the additional earnings the company generates will once again be eaten up by debt servicing. Hold. Last IC View: Hold, 39.8p,11 Mar,2022’ Were that ‘danger’ a possibility, I would expect it to have been listed as a ‘principal risk and uncertainty’, but in any event it appears to be incorrect, as Shi says, ‘The Group's liquidity position remained solid throughout H1 2022 with the capital structure comprising €300m 5.25% fixed rate senior secured notes and an RCF of £50m. These mature/expire in November 2026 and May 2026 respectively. The senior secured notes are subject to incurrence-based covenants, and the RCF has a leverage maintenance covenant which only applies if the facility is over 40% drawn at a quarter end reporting date. The RCF was undrawn throughout H1 2022.’ When the time comes, Shi will refinance. In the meantime, with foresight, it took the opportunity to ‘fix’ on refinancing in November last ahead of time, and at improved rates to previously. |
Posted at 11/3/2022 13:46 by elongate It is part of the growth strategy. Investment. Management made that choice.Shi is spending to accumulate, and the inventory involved will not now come at any further increase in cost but with possibly improved margin on sales. I refer to Investors Chronicle who would like to see a bottom line profit ( cash neutral in their sights ) and have it as a hold and 44p. ‘Overall net debt jumped by £127mn to £365mn, though, as £124mn in cash flowed out of the business due to acquisitions and higher inventory spending as it sought to avoid supply shortages.’ Management is looking ahead. So should you. They have this in mind about spending and profitability. ‘We expect to be free cash flow neutral for the year, before returning to sustainable free cash generation thereafter, enabling us to continue to invest in and drive our strategic goals.’ |
Posted at 05/11/2021 22:25 by elongate This is my last over there. What’s wrong with it? And Zho’s here of 3rd. is a crib ( nothing wrong with that ) from mine over there. If you have something useful, post it like me. I look forward to your input. And please save a little pity for yourself.Some detail on what has happened. All squared up for the future. Locked in a favourable interest rate. Cash on balance sheet (aiming at £100 mil )It will also have reset other matters, including company leverage restraints imposed by lenders on dividend payment. More on that from them later, possibly not before EOY. Immediate benefit is cost reduction, stability and thus institutional investability. ‘The success of this transaction enables us to refinance our existing facilities well ahead of their maturity dates and on more attractive terms. Together with our New Revolving Credit Facility, the Notes further improve the Group's financial flexibility by extending the maturity profile of the Group's borrowings and increasing its available liquidity’ A €300 million five-year (non-call two-year) secured bond issue, tradeable in the market, to reset capital structure. Proceeds from the bond deal will be used to refinance £131 million in private placement notes and £70 million in term loans, as well as provide £31 million cash on balance sheet. Plus a new £50 million 4.5-year super senior revolving credit facility. Banks are guiding investors to expect ratings of B+/B1.( highest quality speculative ) The company generated last-12-months to June 2021 revenue and EBITDA of £2.14 bil. and £74 mil. respectively. Pro forma the transaction, total leverage stands at 3.1x based on annualized EBITDA of £98 mil. |
Posted at 05/11/2021 20:59 by elongate Good evening friends.Some detail on what has happened. All squared up for the future. Locked in a favourable interest rate. Cash on balance sheet (aiming at £100mil ) It will also have reset other matters, including company leverage restraints imposed by lenders on dividend payment. More on that from them later, possibly not before EOY. Immediate benefit is cost reduction, stability and thus institutional investability. ‘The success of this transaction enables us to refinance our existing facilities well ahead of their maturity dates and on more attractive terms. Together with our New Revolving Credit Facility, the Notes further improve the Group's financial flexibility by extending the maturity profile of the Group's borrowings and increasing its available liquidity’ A €300 million five-year (non-call two-year) secured bond issue, tradeable in the market, to reset capital structure. Proceeds from the bond deal will be used to refinance £131 million in private placement notes and £70 million in term loans, as well as provide £31 million cash on balance sheet. Plus a new £50 million 4.5-year super senior revolving credit facility. Banks are guiding investors to expect ratings of B+/B1.( highest quality speculative ) The company generated last-12-months to June 2021 revenue and EBITDA of £2.14 bil. and £74 mil. respectively. Pro forma the transaction, total leverage stands at 3.1x based on annualized EBITDA of £98 mil. |
Posted at 18/10/2021 10:54 by zho Business at construction products supplier SIG (LSE: SHI) is booming today. Yet a look at the penny stock’s share price performance of late might suggest otherwise. I think this could provide a great dip-buying opportunity for me as long-term investor..... |
Posted at 17/7/2021 16:27 by bigbigdave Think this has been tipped in today's Momentum Investor, as a non subscriber can only access the 'free' bit.........SIG - Insulation and roofing materials firm making strong recovery Over the month I met with the management of SIG, a leading supplier of insulation and roofing products. Once a stockmarket darling, it attracted a large investor following during a tremendous share price run from less than £2 to almost £15 between 2000-2007. Although the company has ... |
Posted at 11/1/2021 10:06 by thomasearnshaw Falling nowSnippet from a broker However, most investors are likely to be more heavily focussed on 2021, for which forecasts are expected to see more limited movement and the group is due to remain loss-making in 1H21. With much still left to be done, investors may require greater proof |
Posted at 31/12/2020 09:41 by thomasearnshaw For Immediate PublicationCrash Alert: 83% of Major Investors Believe Global Financial Crisis is a Possibility, Three in Five Foresee Severe Crisis by 2023 at the Latest 83% of institutional investors see a risk of a global financial crisis 60% expect a serious crisis in the next 1 to 3 years Majority of experts believe that risks from the Corona crisis are not yet sufficiently priced into the market 11% of German companies only have cash reserves for less than 4 weeks |
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