SIG shares sink on sluggish activity

0 mins. to read
SIG shares sink on sluggish activity
Master Investor Magazine

Master Investor Magazine 54Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

The price of shares in FTSE 250 building materials specialist SIG (LON:SHI) has dropped by 16.53% to 99.75p (as of 14:30 BST) after it warned that underlying profitability for the year would be substantially below expectations. Management said that construction activity in key markets had been declining through the year, particularly in the UK and Germany.

The company is taking steps to address the weakness through strategic shifts and has entered agreements to sell the Air Handling and Building Solutions divisions, the actions of which will strengthen the business’ balance sheet.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *