Covid sends SIG tumbling to £200m loss

By Dave Rogers2021-03-25T07:52:00

Materials firm expects return to profit in second half of this year

Materials firm SIG said it expects to return to profit in the second half of this year after the firm saw pre-tax losses widen last year to more than £200m.

The firm, which last summer shored up its finances with a £165m equity raise which included £60m from New York private equity firm Clayton, Dubilier & Rice, crashed to a £202.3m loss from a £113m loss in 2019. It said the debt refinancing agreed last July had cost £7.4m.

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