Insulation industry news from Global Insulation

Russia: The net 2011 first-half profit of OJSC Balakovorezinotekhnika, which makes a number of plastic-derived technical goods including vibration-dampening insulation and pipe-lagging was USD2.3m against a loss of USD3.52m for the same period of 2010. Its revenue increased by 43% to USD98.4m from USD68.8m and its profit due to sales was USD1.77m against a sales loss of USD1.96m in the first half of 2010.

UK/Ireland: Roofing and insulation materials supplier SIG took the gloss off a strong first-half performance in 2011 by signalling a slowdown for the rest of the year. The company said that it still expects to make progress in 2011, but that growth will 'moderate' in the second half of the year due to a combination of tough comparative numbers and general economic factors.

The Sheffield-based group reported a slump in consumer spending in the UK and Ireland on areas such as home improvements. It said that reduced government spending was also putting pressure on public sector work.

Total revenues rose by 9% year-on-year to Euro1.57bn in the first half of 2011 with underlying profits 84% ahead at Euro38.3m. The company said that the UK and Ireland saw a 'noticeable softening in demand' towards the end of the second quarter of 2011.