March 5 (Reuters) - British building materials supplier SIG (SHI.L) , opens new tab reported a near 53% fall in its annual underlying profit on Wednesday, hurt by a slowdown in construction and remodelling activity.

Affordability concerns have resurfaced in the UK housing market due to slower-than-expected interest rate cuts and persistent inflation, prompting Britons to delay or abandon purchasing new homes or undertaking home-improvement projects.

SIG, which counts the UK, France and Germany as some of its top markets, reported underlying operating profit of 25.1 million pounds ($32 million) for 2024, in line with analysts' estimate of 25.2 million pounds, according to a company-compiled consensus,

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https://www.reuters.com/markets/commodities/sigs-annual-operating-profit-tumbles-amid-downturn-construction-2025-03-05/