January 9, 2020 / 7:42 AM / 17 days ago

SIG warns on profit as measures to offset construction weakness run late

Jan 9 (Reuters) - Building materials supplier SIG Plc on Thursday cautioned that its annual profit would be significantly lower as steps taken to offset weak construction markets in the UK and Germany would take longer than expected to bear fruit.

The company said it expects underlying pretax profit of about 42 million pounds ($55 million) for the 12 months ended Dec. 31. SIG said measures taken earlier in the year would deliver benefits only in 2020, not 2019 as previously expected.

SIG reported underlying pretax profit of 72.7 million pounds in 2018, excluding property profits. ($1 = 0.7631 pounds) (Reporting by Pushkala Aripaka in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below