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Building materials group SIG narrowed first-half losses and upgraded its annual guidance, as turnaround efforts gained tractions and demand improves following an easing of lockdowns.
Pre-tax losses for the six months through June amounted to £1.6 million, compared to year-on-year losses of £125.4 million.
Revenue rose 32% to £1.11 billion and underlying pre-tax profit amounted to £3.0 million, swinging from a loss of £53.8 million.
SIG refrained from paying an interim dividend.
The company said its 'return to growth' strategy was gathering momentum, with the UK profitable and France and Poland delivering record first halves.
The impact of material shortages and cost-price inflation had been successfully managed to date, it added, with minimal impact in the first half.
Trading in July and August remained solid, with continued profit improvement expected in the second half and full-year underlying operating profit anticipated to be ahead of prior expectations.
'The strong revenue growth across our broad product offering, together with disciplined margin management, has been key to delivering an earlier and stronger profit than previously anticipated,' chief executive Steve Francis said.