Specialist building products group SIG has closed an offsite manufacturer of bathroom pods and utility cupboards with bases in Derbyshire and Croydon as part of a restructure.
SIG revealed the closure in a trading statement covering the period between 1 January and 30 April 2017.
Metechno had been contained within SIG's offsite construction division, but the decision to close the business was taken "given its sub-scale nature in what is an increasingly competitive and commoditised market environment".
SIG has also decided to close its small scale Austrian operations and is in the process of winding these down.
The business said revenues in its current financial year were in line with expectations.
Group revenues from continuing operations increased 6.5 per cent in the period, with currency contributing 5 per cent to growth, acquisitions 0.7 per cent, offset by fewer working days. As a result, group like-for-like revenues were ahead by 1.4 per cent.
The business said its 2016 results were weighted towards the first half of the year. Accordingly SIG expects its first half performance in 2017 to be lower than that achieved in the first half of 2016, and to be comparable with the second half of 2016.
For the full year 2017 the board expects the business to show a stronger second half.
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