Insulation sales will move forward.
Construction decline is slowing down
Published: 17 November, 2009
SHEFFIELD: Construction materials supplier SIG said it is experiencing a slowing of the rate of decline in the construction sector.
The company's interim management statement published today was upbeat, despite like-for-like sales being down by 20% in the UK and Ireland.
SIG is predicting that demand in several sectors "would level out in 2010".
The group raised £325m earlier this year to pay its debts.
SIG's retrofit insulation division has yet to see an upturn from its green initiatives.
The company had to make 2600 "staff reductions" since launching a cost-saving programme in 2008, and has also closed 141 branches.