SIG plc, the Sheffield-based international building materials supplier, has reported a 2025 statutory loss before tax of £61.7 million “reflecting £41.7m of other items, including £29.7m of non cash impairments and £9m of restructuring costs.”

SIG said its revenues slipped to £2.59 billion from £2.61 billion.

“Demand in all markets remains well below historical levels, with European construction remaining at a low point in the cycle for a protracted period, without near term evidence of a meaningful recovery,” said SIG.

“Against this backdrop, our businesses continue to outperform and the majority are taking share within their end-markets.”

SIG CEO Pim Vervaat said: “In 2025 the Group delivered a robust trading performance in continued difficult market conditions, and good progress in improving the underlying performance and profitability of our businesses.

“Cost reduction initiatives delivered a £39m saving which enabled us to deliver 28% growth in underlying operating profit despite the challenging market backdrop.

“During my first five months at SIG, I have been impressed with the capability of our people and can see a clear opportunity to increase the value that the Group can deliver for shareholders, as outlined in our update in January.

“The Group is well positioned in markets that continue to have strong long-term growth drivers. The operating leverage benefits when markets return to growth will be significant, and further opportunities for self-help have been identified.

“We will focus on optimising both the business performance and the business portfolio in order to create a best-in-class growth platform for building materials distribution in Europe.

“In 2026 we aim to deliver further financial and strategic progress, and I look forward to working with the Board and all the SIG management teams in driving substantial value over time.”