16th Nov 2015 07:34
LONDON (Alliance News) - Building products company SIG PLC on Monday said trading improved in October, following the profit warning it issued last month as it was hit by sluggish conditions in its key markets.
In October, SIG had said sales had slowed sharply in the third quarter to end September, primarily due to tough conditions in its European markets and also thanks to a weaker-than-expected UK repair, maintenance and improvement market.
The issues the group faced meant it downgraded its underlying operating profit guidance for all of 2015 to GBP85.0 million to GBP90.0 million, down from the GBP98.1 million it made a year earlier.
On Monday, the group said trading had improved in October and affirmed that reduced full-year guidance.
By Sam Unsted; [email protected]; @SamUAtAlliance
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