The figure was contained in a trading update by SIG today which said the price could rise by a further £1m depending on future performance.

SIG said Beaver made a “small underlying operating loss on sales of £25.4 million in 2010 and was forecast to make a small profit in 2011.”

SIG said all divisions in the UK had enjoyed growth during the first four months of the year.

It said: “Trading for the first four months of 2011 has been in line with management’s expectations.

“Against a weak weather-affected corresponding period in 2010, Group sales increased 8% (9% on a constant currency basis) with, as anticipated, growth moderating from March onwards against tougher comparators.

“In the UK and Ireland all divisions have shown growth, with the exception of Interiors Manufacturing, which continues to be impacted by weak trading conditions in the non-residential sector, and Energy Management, where CERT funding is materialising but has not yet been fully reflected in trading.”