{"id":2141121,"date":"2025-07-08T08:17:03","date_gmt":"2025-07-08T07:17:03","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/yorkshire\/?p=2141121"},"modified":"2025-07-08T08:17:03","modified_gmt":"2025-07-08T07:17:03","slug":"weak-market-demand-prevails-for-insulation-firm","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/yorkshire\/news\/2141121-weak-market-demand-prevails-for-insulation-firm","title":{"rendered":"Weak market demand prevails for insulation firm"},"content":{"rendered":"<p>Sheffield-headquartered insulation and building supplies firm, SIG Group, issued a gloomy trading statement today as weak demand continues to prevail across all sectors.<\/p>\n<p>Updating the market for the six months to June 30, SIG said demand in all markets remains well below historical levels, and trends in the second quarter were like those experienced in Q1, with European construction at a low point in the cycle.<\/p>\n<p>SIG Group said expects to report a 1% growth in like-for-like sales to \u00a31,306m, for the first half of 2025 which, on a brighter note, \u2018reflected continued market outperformance\u2019.<\/p>\n<p>Underlying operating profit for H1 is expected to be around \u00a315m, compared to \u00a312m on the same period last year, with ongoing impact of productivity initiatives partially offsetting continued softness in market demand.<\/p>\n<p>Its shares nudged up 2% in early trading to 14.76p \u2013 40% down on its year high of 27p.<\/p>\n<p>The group continues to execute on its strategic initiatives to drive cost savings and productivity, and to improve cash generation<\/p>\n<p>The board said it expects the group to deliver full year underlying operating profit in line with market expectations, adding that having seen no notable pick-up in demand during the period, it remains cautious as to the prospect of meaningful market improvement during the second half.<\/p>\n<p>Following the news in May the CEO Gavin Slark had stepped down to take up a role at Travis Perkins, SIG has appointed Pim Vervaat as CEO and chair designate who will join the company in October.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Updating the market for the six months to June 30, SIG said demand in all markets remains well below historical levels, with European construction at a low point in the cycle<\/p>\n","protected":false},"author":271992,"featured_media":2127630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120821],"coauthors":[137100],"class_list":["post-2141121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-construction","tag-featured-story","tag-yorkshire"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Weak market demand prevails for insulation firm | TheBusinessDesk.com<\/title>\n<meta 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