SigmaRoc PLC Year-end Trading Update (8544C)
January 25 2018 - 1:00AM
UK Regulatory
TIDMSRC
RNS Number : 8544C
SigmaRoc PLC
25 January 2018
SigmaRoc plc / EPIC: SRC / Market: AIM / Sector: Construction
Materials
25 January 2018
SigmaRoc plc
('SigmaRoc' or the 'Company')
Year-end Trading Update
SigmaRoc plc, the buy-and-build construction materials group
delivered a solid underlying performance for the year ended 31
December 2017, with results in-line with management
expectations.
- The first year of operations saw operational efficiencies
achieved ahead of schedule, resulting in a positive financial
performance for the group, further strengthened by the acquisition
of two value accretive businesses in Southern and Eastern
England.
- Optimisation initiatives for the newly purchased businesses
have been launched. The Board expects that these businesses will be
structurally embedded and operationally integrated within H1 2018,
with further operational improvement to follow as management
delivers on its optimisation programme.
- Trading in the Channel Islands has seen a slight increase
year-on-year, with a slightly stronger market in Jersey, while
Guernsey remains below its historical average performance.
- The precast concrete cluster in Southern and Eastern England
has seen good performance in Q4 2017 and a good year 2017
overall.
- The Board looks forward to creating further shareholder value
through the continuing delivery of its buy and build strategy and
the extraction of further value from synergies of its most recently
acquired businesses in 2018.
David Barrett, Chairman, commented:
"I am pleased to report that our first full year has produced a
performance in line with our expectations and forecasts. We are
confident that 2018 will be another year of transformational growth
from both our current businesses and pipeline of further
opportunities".
Max Vermorken, CEO, commented:
"We are very pleased the roll-out of our strategy is progressing
at a solid pace. With our recent acquisitions forming a strong
precast cluster we look forward to extracting further value by
bringing our assets closer together and extracting synergies".
Enquiries:
Tel: +44 (0)7738 724
SigmaRoc 630
Max Vermorken, CEO
Strand Hanson (Nominated Tel: +44(0)207 409
and Financial adviser) 3494
James Spinney / James Dance
Tel: +44(0)203 207
Berenberg (Broker) 7800
Ben Wright / Mark Whitmore
/ Laure Fine
TB Cardew (Financial PR Tel: +44 (0)7738 724
adviser) 630
Ed Orlebar / Tom Allison
/ Alycia MacAskill sigmaroc@tbcardew.com
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Upon the
publication of this announcement via Regulatory Information
Service, this inside information is now considered to be in the
public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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