SIG profit slumps amid 'challenging' UK market

By Hamish Champ2018-09-21T12:38:00

First half trading hit by bad weather and ‘macro uncertainty’

SIG has blamed what it called a “challenging” UK market for a near-22% slump in profit in the first six months of 2018.

The building materials group said the domestic market had “not provided a helpful backdrop so far this year”.

SIG said that while it had seen growth in new housing starts the commercial new build market had slowed significantly in the past 12 months, and demand in the residential repair, maintenance and improvement market “remains weak, reflecting subdued levels of secondary housing market transactions”.

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