SIG 1H Sales GBP1.29B, Sees Adj Pretax Profit Above Market Views

9th Jul 2010 07:16

LONDON (Dow Jones)--SIG PLC (SHI.LN), a European specialist supplier of insulation, interiors, exteriors and specialist construction products, said Friday that in the six months to June 30 sales GBP1.29 billion were down 4.0% compared to the first half of 2009, and in line with management's expectations. MAIN FACTS: -Underlying profit before tax in the first half of 2010 will be above market expectations. -Stabilization of SIG's various markets has been progressing in line with management's expectation that monthly sales compared to the same month in the prior year will level out in late summer 2010. -Net debt at June 30 GBP227 million (Dec. 31: GBP255 million) -Notwithstanding the encouraging sales development in its main businesses in 2Q, SIG's management remains cautious about prospects for the remainder of the year. -Shares closed Thursday at 104.5 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; [email protected] (END) Dow Jones Newswires July 09, 2010 02:16 ET (06:16 GMT)