June 24, 2024 07:32 GMT
SIG (B2[N]/B+/NR): Profit Warning
HIGH YIELD
Bonds down ~5.5pts
- UK building materials supplier SIG released a trading update flagging LfL sales -7% YoY for May and June.
- The trend from earlier in the year continues with an expected uptick not yet materialising. France and Germany have been the weakest regions, with UK interiors also mentioned.
- Guiding £20-30mn FY24 operating profit with BBG analyst consensus at £36mn.
60 words