May 11 Construction materials supplier SIG
, which named a new CEO in March to lead its turnaround
efforts, on Thursday said it expects debt to decline in the
second half of 2017.
SIG said it continues to pursue a number of actions to
strengthen its balance sheet including selling assets and
reviewing costs as it battles to recover from weak trading in
its UK insulation, interiors and offsite construction
The company, which supplies insulation and roofing products,
reported a 6.5 percent rise in revenue for the period ended
April 30. Group like-for-like sales were up 1.4 percent and in
line with the company's expectations.
The company's shares, which fell as much as 2.42 percent,
were trading down 0.5 pct at 123 pence on the London Stock
Exchange at 0713 GMT.
(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Sunil