SIG sees Irish sales drop by 44%

BRITISH building insulation products company SIG, has said that sales in its Irish-based operations fell by around 44% — on a year-on-year basis — in the first half of this year, due to the fall in the property market here and in the overall economy.

In a pre-close trading update — published yesterday — ahead of the publication of its first half results, in August, the company said of its Irish business: “Performance in Ireland has continued to weaken throughout 2009, as a result of the severe downturn in the construction market.”

The combination of SIG’s British and Irish operations account for 50% of group sales. The business also has significant interests across western, central and eastern Europe.