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BUZZ-SIG: worst day ever on FY profit warning, CEO exit

Reuters - UK Focus

** SIG (Stuttgart: QIG.SG - news) -23.5 pct, worst day ever, biggest loser on FTSE 250 as building materials supplier warns on FY profit, citing softer trading & intensified competition in the UK after Brexit vote

** Co adds CEO Stuart Mitchell steps down immediately

** Sees FY underlying PBT 75-80 mln stg, analysts' avg 91.53 mln stg, acc to Thomson Reuters I/B/E/S.

** Jefferies cuts to "hold" from "buy" & PT to 90p from 140p as it reduces FY PBT est by 18 pct to 75.3 mln stg

** Stock lowest since 2012, more than 5.3 mln shares traded, 2x 30-day avg vols gone through in first 30 minutes (Reuters Messaging: pranav.kiran@thomsonreuters.com@reuters.net)