Construction and insulation products specialist SIG has continued to struggle in the face of significant headwinds in the first half of this year.
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Overall sales fell 4 per cent to £1.29bn and underlying pre-tax profits slumped 16 per cent to £18.5m, excluding £14.9m of one-off costs that led to a reported loss. And although restructuring of the business has generated £30m in cost savings, SIG admitted that savings from a reconfiguration of the interiors manufacturing division will take longer than expected, with planned synergies of around £6m not coming through until 2011.
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When: 15/07/10
Price: 103p
Performance to date: 11%
