StockMarketWire.com - Insulation and roofing company SIG upgraded its outlook on profit after reporting a rise in sales in the third quarter of the quarter of the year following strong performance in its UK distribution business.

Full year underlying operating profit was expected to be ahead of current market forecasts, the company said.

Like for like sales growth in Q3 was 17% versus the prior year. Against pre-Covid 2019 comparatives, Q3 growth was 9%, up from the 1% growth seen in H1.

'Whilst supply issues persist across many product groups, order books continue to build and the outlook for materials shortages has become clearer,' the company said.




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