LONDON (dpa-AFX) - Shares of SIG plc (SHI.L) were gaining around 4 percent in the early morning trade in London after the distributor of specialist building products, reported Wednesday that its first-half like-for-like revenues climbed 33 percent compared to the Covid-affected prior year, and up 1 percent against the pre-pandemic 2019.
Looking ahead, the company raised its full-year profit outlook.
In its trading update, the company said profitability improved throughout the period, a result of the normal seasonality in the business and the improving trading across the Group.
The Board expects to report first-half revenues from underlying operations of about 1.11 billion pounds, and an underlying operating profit of about 13.5 million pounds.
The company expects the UK business as a whole to be just over break-even at the underlying operating profit level for H1, ahead of plan.
The company continues to expect second-half to be both profitable and cash generative, with full year underlying operating profit now expected to be ahead of previous forecasts.
In London, SIG shares were trading at 49.88 pence, up 4.08 percent.
Copyright RTT News/dpa-AFX