SIG slumps 20% after profit warning

/ / News

Building materials supplier SIG plc lost a fifth of its value on Thursday after reporting a deterioration in sales accelerated in December, with sales per working day a quarter lower than November. SIG said second-half like-for-like sales slumped 8.3%. It’s forecasting underlying profit before tax, before asset sales and exceptional items, for the year of £42 million, versus the previous analyst consensus of £62 million.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.