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Sep 6 2019, 08:35 IST/BST
First-half results confirm that SIG is benefiting from the hard work it has undertaken in relation to its cost structure. This has helped protect the group’s profits as end-markets remain generally hostile. Indeed, SIG’s outlook comments are bearish, with the suggestion of a further weakening in the UK and Germany. We suspect this will lead to a downward adjustment to underlying full year profit estimates.