UK's SIG warns of annual profit hit on construction downturn, wet weather
16/07/2026 07:41
UK's SIG warns of annual profit hit on construction downturn, wet weather July 16 (Reuters) - British building materials supplier SIG SHI.L warned of lower annual profit on Thursday, saying it does not expect material recovery through the rest of the year, after first-half sales fell due to a prolonged construction downturn and wet weather.
The company also launched a plan to generate at least £100 million ($135.3 million) in cash by simplifying its business and accelerating disposals, assuming no recovery is visible into 2027.
($1 = 0.7389 pounds)
(Reporting by Anushka Chourasia and Pushkala Aripaka in Bengaluru; Editing by Rashmi Aich)