SIG PLC (SHI.L)
19 Jul 2019
Britain's FTSE 100 fell on Friday as stronger-than-expected U.S. employment data tempered hopes of an aggressive interest rate cut by the Federal Reserve and as heavyweight miners fell due to weakness in China's iron ore futures.
* SIG warns of lower UK construction activity, drags housebuilders
Building materials supplier SIG Plc on Friday sounded another warning for Britain's construction industry as it blamed a marked deterioration in activity for lower first half like-for-like sales, sending its shares down as much as 12%.The construction industry in Britain had its worst month in June since the 2009 recession according to the latest PMI data, hit by uncertainties over Britain's exit from the European Union.
* Exploring disposal of Air Handling unit (Adds details, background, analyst comment)
July 5 Britain's FTSE 100 index is seen opening two points lower at 7,602 on Friday, according to financial bookmakers, with futures down 0.08% ahead of the cash market open.
SIG Plc reported a fall in sales for the first four months of the year as it battled an increasingly challenging construction market in Britain, although the building materials supplier clung onto its annual profit expectations.
May 8 SIG Plc reported a fall in sales for the first four months of the year as it battled an increasingly challenging construction market in Britain, although the building materials supplier clung onto its annual profit expectations.
May 8 SIG Plc said on Wednesday that like-for-like sales fell more than 9 percent in Britain for the first four months of the year, troubled by an increasingly challenging construction market.
* SIG, Bodycote gain after results (Adds company news items, updates to closing prices)
British building materials supplier SIG's cost-saving efforts helped it post a 25 percent jump in full-year profit, lifting its share price by 11 percent on Friday, although it warned sales could continue to fall in 2019.