SIG supplies insulation, interiors, exteriors and specialist construction products
Group sales year to date are down 1% on 2009, but are up by 3% since the end of June compared to the same period in 2009. Markets remain very competitive and gross margins have shown no improvement compared to the first half of the year, the company reports in its interim management statement.
The board expects underlying profit before tax for the year to be in line with the current consensus market expectation of £61.3m.
In the UK and Ireland, sales for the year to date are down 3% compared with last year. Sales in the company’s distribution and merchanting businesses, which account for.87% of UK sales, have continued to improve and are now positive on a year to date basis compared to prior year, the company said. However, in the case of the Interiors Manufacturing and Energy Management divisions, sales volumes continue to run at a substantially lower rate than last year.
Mainland Europe accounts for 52% of group sales and here trading has been stronger than in the UK, with sales year to date in constant currency 1% ahead of the equivalent period in 2009 and up by 6% in H2 to date.