SIG plc (GB:SHI) has released an update.
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SIG plc, a leading European supplier of specialist building materials, has reported a like-for-like sales decline of approximately 7% in May and June, underperforming against expectations. The company anticipates a full year 2024 underlying operating profit between £20m-£30m, falling below current analyst predictions. Despite market challenges, notably in France and Germany, SIG is driving cost reductions and expects strategic initiatives to bolster profitability as conditions improve.
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