SIG expects its full year underlying operating profit to be ahead of current market forecasts

Sheffield-based SIG has issued a trading update for the third quarter of its financial year ending 31 December 2021.

The statement said: "Further to the update provided at the time of the group's interim results, the board is pleased to confirm that the solid trading performance seen in July and August continued through September.

The statement added: "UK distribution performance provided the principal driver for the acceleration in growth during the third quarter, with the business moving, as expected, back to growth against 2019 monthly comparators, as the strategic and operational changes made since July 2020 continue to drive the return towards its previous market position and performance."

SIG's France and UK Exteriors businesses, and its Poland business, continue to perform very strongly, the company said.

Commenting on the outlook, the company said: "Whilst supply issues persist across many product groups, order books continue to build and the outlook for materials shortages has become clearer.

"We are mindful of the potential impact of these shortages should the situation persist for an extended period, but remain highly confident in the effectiveness of our supply chain management and commercial agility. As a result of the continued strong sales momentum and operating performance, we are now more confident in our near term outlook and expect full year underlying operating profit to be ahead of current market forecasts."

Support The Yorkshire Post and become a subscriber today. Your subscription will help us to continue to bring quality news to the people of Yorkshire. In return, you'll see fewer ads on site, get free access to our app and receive exclusive members-only offers. Click here to subscribe.