Sales fall 6% for building group SIG

BUILDING materials group SIG has said that trading in the second half of the year has become more challenging, with like-for-like sales in its British and Irish core operations down by about 5.3% in sterling terms, on a year-on-year basis, and down by 6.3% on a constant currency basis.

The group, which specialises in roofing, insulation and interiors, said that the slowdown in the residential housing market in Ireland is having an adverse affect on its business. The Irish market accounts for just under 5% of SIG’s annual group turnover.

The company is also reportedly looking at cutting up to 900 jobs.