SigmaRoc PLC AGM Trading Update (0447Z)
May 19 2021 - 1:00AM
UK Regulatory
TIDMSRC
RNS Number : 0447Z
SigmaRoc PLC
19 May 2021
19 May 2021
(EPIC: SRC / Market: AIM / Sector: Construction Materials)
SIGMAROC PLC
( ' SigmaRoc ' , the 'Company' or the 'Group' )
AGM Trading Update
SigmaRoc (AIM: SRC), the AIM quoted buy-and-build construction
materials group, is pleased to provide the following market update
in advance of its Annual General Meeting to be held at 3.00 pm
today.
Trading
Despite the ongoing disruption caused by the COVID-19 backdrop,
t rading in the first four months of the year has been ahead of
internal expectations across the Group.
The Group generated revenues of GBP36.7m in the first quarter, a
like-for-like* increase of 12% over the same period in 2020, which
was largely unaffected by the pandemic. Alongside the organic
growth and the contribution from acquisitions made last year, both
margins and cash generation continued to be strong in the
quarter.
Outlook
The positive momentum has continued into the second quarter,
with April performance demonstrating further like-for-like growth
versus March and very significantly ahead of April 2020 which was
severely disrupted by COVID-19.
Building on this positive start to the year, the outlook for the
Group remains favourable with strong demand across all products and
platforms. Private sector demand has been robust and infrastructure
demand is starting to materialise with several large-scale projects
commencing across our platforms. Demand for aggregates, concrete
and dimension stone has been particularly strong in the Benelux
markets driven by the same underlying trends of private and
infrastructure demand.
The newly acquired B-Mix and Casters businesses are being
integrated into the Group at significant speed and the takeover of
the crushing installations at Carrieres du Hainaut in Belgium is
already yielding the expected increase in production efficiency.
Further organic investment projects are on track to be delivered in
South Wales and within our Precast Products Group in the coming
months.
Our Greenbloc product line has attracted significant attention
from our customer base with several updates on the product and its
applications to follow shortly.
*Like-for-like Group revenues exclude the impact of acquisitions
as compared with the first quarter of 2020.
Max Vermorken, CEO commented:
"The year started well across the Group with strong sales in
every platform. We were able to deliver three attractive
acquisitions in Belgium, which are contributing well to the Group's
top and bottom line. Several initiatives for further organic and
acquisitive development of the business are being considered
further to improve the strategic footprint and the bottom line of
the Group."
Information on the Company is available on the Company's
website, www.sigmaroc.com .
SigmaRoc plc Tel: +44 (0) 207
Max Vermorken 002 1080
Strand Hanson Limited (Nominated and Financial Tel: +44(0) 207
Adviser) 409 3494
James Spinney / James Dance / Rob Patrick
Liberum Capital (Co-Broker) Tel: +44 (0) 203
Neil Patel / Jamie Richards / William Hall 100 2000
Peel Hunt (Co-Broker) Tel: +44 (0) 20
Mike Bell / Ed Allsopp 7418 8900
Investor Relations Tel: +44 (0) 207
Florian Werner 002 1080
ir@sigmaroc.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.
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END
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