Yorkshire-based building and roofing materials group SIG posted a slight fall in first-half profit and said it would target further cost savings in 2013 amid declining market volumes.

The company, which supplies insulation, roofing and specialist construction materials across Europe, said its underlying profit before tax for the six months to the end of June fell 1.9 per cent to £34.7m, versus £35.4m in the same period last year.

In a statement, chief executive Chris Davies said: “We continue to expect market volumes to decline slightly this year and against this background are focused on improving the group’s performance, outperforming our markets and implementing further self-help measures.”

SIG, which operates in 11 European countries, said it was targeting further annual operating cost savings of £7m in 2013, adding that some £2.3m of these savings had been made in the first half of the year.

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