Building supplier continues to outperform the market

Insulation and building products supplier, SIG, said sales of its products continue to outperform the market as it reported a 2% growth in the first quarter.

In the three months to 31 March, group like-for-like sales came in at £636m. However, revenue slipped by 1%, reflecting an impact of 2% in aggregate from working days and exchange rates, as well as a 1% impact from branch closures over the last year.

Sheffield-based SIG said while demand in all markets remains significantly below historical levels, with European construction at a low point in the cycle, there have been signs of further volume stabilisation in many of its markets.

It added that the benefits of ongoing commercial and operational initiatives are enabling the business to outperform local markets, with particularly strong performance in the UK and Germany.

Gavin Slark, CEO, said: “The group has made an encouraging start to the year. Whilst we continue to experience weak demand in our end-markets across the UK and EU, we are navigating through this successfully.  We are creating better performing businesses across the Group, which will help to significantly improve our future profitability and cash generation when markets recover.”

SIG will publish its H1 2025 results on 5 August.