Building products supplier SIG says softening demand across key European markets means half year profits are likely to be at the lower end of expectations.
The Sheffield-based firm saw flat like-for-like revenue at £1.4bn in the six months to the end of June as fewer sales were partly offset by price inflation. Amid a turnaround plan, the London Stock Exchange-listed specialist in insulation products said demand was notably softer in the last two months, particularly in France and Germany.
Bosses said underlying operating profits of about £33m - towards the lower of estimates - are expected as it remained uncertain as to when demand may pick up. Some of the weaker performance had been offset by productivity initiatives introduced as part of a turnaround that last year's results showed to be successful.
