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IN BRIEF: SIG expects 2023 profit to drop year-on-year

9th Jan 2024 10:57

SIG PLC - Sheffield, England-based insulation, roofing, commercial interiors and construction products supplier - Expects underlying operating profit in 2023 to be in the upper half of its guidance range of GBP50 to GBP55 million. This would be down sharply from GBP80.2 million in 2022. Expects revenue of GBP2.76b billion, edging up from GBP2.74 billion a year prior. "Despite challenging market conditions across the European building and construction sector, the group has delivered a robust trading performance, through a strong focus on our customers and the great efforts of all our people," says Chief Executive Officer Gavin Slark.

Current stock price: 32.85 pence, up 2.2%

12-month change: up 5.1%

By Sabrina Penty, Alliance News reporter

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