SIG benefits from mild weather
The Sheffield-based company, which supplies insulation, roofing and specialist construction materials, expects adjusted pre-tax profits to be slightly above the upper end of the range of analysts’ expectations for 2011.
Sales from continuing operations rose eight per cent to £2.74bn.
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Hide AdAnalysts were expecting the company to report pre-tax profits of £77.3m on revenues of £2.75bn.
Earlier this week, Britain’s largest tile retailer Topps Tiles said like-for-like revenues in the first 13 weeks of the financial year fell by 4.2 per cent due to tough trading conditions.
Even though SIG warned of a drop in volumes in 2012, it expects to continue to gain market share.
SIG’s shares fell five per cent in the last three months, compared with a two per cent rise in FTSE Mid 250 Index.
They were up 1.5 per cent this morning.