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SIG H1 Underlying PBT Up

Specialist building products distributor SIG Plc (SHI.L) on Friday reported that its underlying profit before tax, pre IFRS 16, rose 20 percent to 30 million pounds in the first half. Profit before tax, post IFRS 16, totaled 5.2 million pounds for the half year.

The Group's underlying earnings per share, pre IFRS 16, was up by 23.3 percent to 3.7 pence. Basic earnings per share, post IFRS 16, totaled 0.2 pence.

SIG also reported that its underlying operating profit, pre IFRS 16, increased by 10.6 percent to 36.5 million pounds, while operating profit, post IFRS 16, amounted to 17.8 million pounds. The last year results are restated, the company said.

Underlying revenue for the six-month period slid by 5.1 percent to 1.26 billion pounds. Statutory revenue, post IFRS 16, reached 1.272 billion pounds for the half year.

In addition, the Group is declaring an interim dividend of 1.25 pence per share, to be payable on 8 November 2019 to shareholders on the register at close of business on 4 October 2019.

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