SIG plc reported consolidated earnings results for the full year ended December 31, 2015. For the year, the company reported total revenue of £2,566.4 million compared to total revenue of £2,633.9 million for the same period a year ago. Revenues fell by 1.4%, having been adversely affected by challenging trading conditions and foreign exchange translation. Operating profit was £65.9 million compared to £53.2 million last year. Profit before tax was £51.3 million compared to £39.0 million last year. Profit after tax was £36.3 million compared to £34.5 million last year. Profit attributable to equity holders of the company was £36.0 million or 6.1 pence per basic and diluted share compared to £33.0 million or 5.6 pence per basic and diluted share last year. Net cash generated from operating activities was £50.5 million compared to £78.7 million last year. Purchase of property, plant and equipment and computer software was £49.0 million compared to £38.1 million last year. The group's closing net debt position as at December 31, 2015 was £235.9 million, an increase of £109 million over the year from £126.9 million as at December 31, 2014. The increase was mainly due to higher CapEx. Net capital expenditure (excluding one-off sale of land) was £46.3 million compared to £36.6 million last year. In 2015, the company's ROCE decreased by 110 basis points to 9.3% mainly due to weaker trading conditions compared to 10.4% last year. Underlying operating profit was £98.7 million compared to £111.2 million last year. Underlying profit before tax was £87.4 million compared to £99.1 million last year. Underlying basic earnings per share was 11.2 pence compared to 12.0 pence per share last year. On a statutory basis profit before tax increased 31.5% mainly due to a reduction in amortization of acquired intangibles, and the prior year including costs associated with the sale of businesses, offset by business termination costs.

For 2016, the company expects effective tax rate to be similar to 2015 at around 24%.