Sheffield-headquartered insulation and building supplies firm, SIG Group, fell deeper into the red today when it revealed a \u00a333m loss in the first half.<\/p>\n
Revenue was also down in the six months to \u00a31,304.4m from \u00a31,316.8m and pre-tax losses down 193% to \u00a311.3m.<\/p>\n
On a brighter note, the group\u2019s strategic initiatives to drive cost savings and productivity, with restructuring actions taken since H2 2023 now at \u00a338m in permanent annualised cost savings.<\/p>\n
SIG Group said it had seen no notable pick-up in demand during the period and remains cautious as to the prospect of \u2018meaningful\u2019 market improvement during the second half<\/p>\n
It added that in the near term, productivity and efficiency actions, together with strong commercial focus, will continue to drive improving performance.<\/p>\n
Ashton, chief financial officer, said: \u201cThe group’s robust trading results in the first half reflect continuing outperformance of markets that remain subdued.<\/p>\n
“Cost, productivity and cash initiatives have remained a key focus in the period, as has the ongoing implementation of strategic and operational improvements that are positioning the group to win in the long term. These actions have benefited the first half and underpin the anticipated outcome for the year, and as such our outlook for 2025 remains unchanged.<\/p>\n
“We continue to make good progress in creating better performing businesses across the group, which will help to significantly improve our future profitability and cash generation when markets recover.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
SIG Group, fell deeper into the black today when it revealed a \u00a333m loss in the first half<\/p>\n","protected":false},"author":271992,"featured_media":2142140,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120821],"coauthors":[137100],"class_list":["post-2142139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-construction","tag-featured-story","tag-yorkshire"],"yoast_head":"\n