Covid erodes Kingspan rival's Irish earnings

SIG's Irish profits tumbled last year due to Covid disruptions.

UK building materials and insulation group SIG – a chief rival of Cavan-based group Kingspan – has reported a huge erosion of profit in its Irish-based operations due to the havoc caused by Covid disruptions.

SIG said the underlying operating profit for its Irish business amounted to just £800,000 (€930,000) at the end of 2020 – down from a profit of just under £7m in 2019.