Jan 9 Building materials supplier SIG
said it expected full-year underlying pretax profit to be no
less than 85.8 million pounds ($141.31 million), helped by cost
cuts and a recovery in the British residential construction
SIG, which supplies insulation products, materials for
roofs, and interior fittings, said it expected construction
activity in the UK residential market to remain buoyant, with
the non-residential sector continuing to be subdued.
It added that the mainland European construction market was
expected to remain "variable".
SIG reported an underlying pretax profit of 84.1 million
pounds in 2012.
The company said revenue rose 4 percent to about 2.72
billion pounds in the year ended Dec. 31, having benefited from
favourable exchange rates.
SIG said its cost-cutting drive would save the company an
annual 9 million pounds, of which about 40 percent was realised