May 11, 2017 / 7:17 AM / in 6 months

SIG sees fall in debt in second half of 2017

May 11 (Reuters) - 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 businesses.

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 Nair)

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