NuGen Properties

SIG takes £5m hit from Avonside

SIG supplies specialist insulation and building products

Avonside was one of SIG’s biggest customers but it went into administration in September 2022.

In a trading update today, SIG said that Avonside’s administration resulted in it writing off a one-off £5m loss in its 2022 accounts.

However, the trading update was otherwise positive, with full year like-for-like sales growth of 17% resulting in revenues of £2.74bn and an increase in underlying operating profit to around £80m (in line with market expectations), up from £41m in 2021.

Reported group revenues were 20% higher in the year, including 4% from acquisitions, slightly offset by 1% adverse currency movements. 

UK sales were up 15% during 2022 to £1.15bn. Recent UK acquisitions, including Miers Construction Products acquired in July 2022, were said to be performing well.

Former Grafton Group chief executive Gavin Slark joins SIG on 1st February to succeed Steve Francis as SIG’s group CEO.

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Dan Morten 18/01/22

Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

Sonny Carter-heyward 29/02/22

Brilliant service, renovated my house to make a dream a reality. Thanks guys

sitemanager 22/01/23

Great firm to communicate with fast and good quality work.