SIG remains guarded despite profits
Published:  12 July, 2010

SHEFFIELD: Roofing and insulation firm SIG said that in the six months to July sales reached £1.29bn, in spite of extreme weather conditions at the start of the year.

However, the company warned that recovery prospects were uncertain as commercial construction was still "moving downwards and appeared to be unlikely to return to growth before the end of this year".

 

Sheffield-based SIG said combined sales rates for May and June were level on 2009 in the UK and Ireland and marginally ahead in mainland Europe.

However, it added: "Notwithstanding the encouraging sales development in its main businesses in the second quarter, SIG's management remains appropriately cautious about prospects for the remainder of the year."

November's floods and this winter's extreme weather conditions disrupted trading at SIG and led to the closure of many sites.

The stabilisation of SIG's key markets continued in line with expectations since then. The company's UK distribution and merchanting businesses reported sales growth of 2% in the second quarter of 2010.

The biggest improvements were from the company's roofing operation. It has the greatest exposure to the residential construction sector - an area which is experiencing a measure of recovery.




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