SIG confirms £150m raise plans as firm swings to loss SIG confirms £150m raise plans as firm swings to loss Building products supplier SIG this morning confirmed plans to raise £150m from a share issue after the firm swung to a loss in 2019. The company said that investment firm Clayton, Dubilier and Rice (CDR) had agreed to invest £85m into SIG, and would take two board seats as a result. The announcement initially prompted [...]
SIG shares plunge on yet another profit warning SIG shares plunge on yet another profit warning Building materials supplier SIG warned of a sharp fall in 2019 profit this morning, amid weak European construction markets and delays in its turnaround efforts taking effect. The company’s shares fell 20 per cent in early trading after it also said sales rates deteriorated towards the end of the year. Read more: Building materials group [...]
Like a brick: SIG shares drop as profit warning sends ripples through construction industry SIG profit warning sends ripples through construction industry Building materials firm SIG shares tumbled 15 per cent this morning as it warned profits would be “significantly lower” than last year, amid languishing construction markets in the UK and Germany. SIG’s warning set alarm bells ringing across the industry as it said a “deterioration in trading conditions” had worsened in recent weeks. Read more: [...]
SIG expects profit to increase on British residential construction January 9, 2014 BUILDING materials supplier SIG has said it expects full-year underlying pre-tax profit to be no less than £85.8m, helped by cost cuts and a recovery in the British residential construction market. SIG, which supplies insulation products, materials for roofs, and interior fittings, said it expected construction activity in the UK residential market to remain buoyant, [...]