SIG Plc (SHI.L), a British supplier of construction products, on Wednesday registered a decline in like-for-like or LFL revenue for the third-quarter.
The Group said: "Whilst weak demand has continued to be a factor in the majority of the Group's markets, reflecting the ongoing softness in the European building and construction sector, LFL performance improved sequentially in Q3 as expected. This was despite the effect of strategic branch closures, which form part of the restructuring programmes in the UK, Germany and France, and which impacted the Group LFL performance by c1% in the period."
For the three-month period to September 30, the Group's LFL revenue declined by 4 percent to 662 million pounds, year-on-year basis.
UK registered an LFL revenue of 294 million pounds, down 5 percent from last year.
Looking ahead, for the full year, SIG's expectations for underlying operating profit are unchanged and in line with the guidance provided in August, with the benefits from productivity and cost initiatives.
The company still expects its annual underlying operating profit to be in the range of 20 million pounds to 30 million pounds.
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