SIG slowdown after bumper first half

ROOFING and insulation materials supplier SIG yesterday flagged a slowdown over the remainder of the year that took the gloss off a strong first-half performance.

The firm told investors that it still expected to make progress this year, but growth would moderate in the second half due to a combination of tough comparative numbers and macro-economic factors.

Sheffield-based SIG said the UK and Ireland was seeing lower consumer spending in areas such as home improvements, while reduced government spending was putting pressure on public-sector work.

Up until June, sales were strong, with overall revenues up 9 per cent to 1.4 billion and underlying profits 84 per cent ahead at 34 million, but the UK and Ireland saw a "noticeable softening in demand" towards the end of the quarter.