|
SIG PLC said on Friday that its third-quarter performance was flat compared to a year earlier and its full year expectations are unchanged and in line with market expectations. The Sheffield, England-based building materials firm said in its third-quarter trading statement that like-for-like sales were up to £664 million from £662 million in the same period ended September 30 a year earlier. SIG reported growth of 1% over the first nine months to September 30. The company said subdued demand has persisted across the sector with no material signs of recovery, though it has continued ‘to perform well relative to market conditions’ and has delivered on operational and cost-efficiency initiatives. SIG said that ‘whilst remaining mindful of the ongoing challenging market conditions’, the company’s expectations for full-year underlying operating profit remain unchanged. Chief Executive Officer Pim Vervaat said: ‘I have been impressed with the energy, commitment and knowledge of the many people I have met across the group so far. I am also pleased to see the robust trading performance in continued difficult market circumstances, and the strong focus of the teams on managing both costs and working capital. ‘I look forward to working with the Board and the management teams in driving substantial value over time, and to sharing my initial views early in 2026.’ Shares in SIG were down 1.0% to 8.99 pence on Friday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
