SigmaRoc, the London-based AIM (Alternative Investment Market) – listed buy-and-build construction materials group saw its revenues rise by nearly 50% and its profit before tax by 25% in the first half of 2019.
Currently running three business operating platforms in England, Wales and the Channel Islands, SigmaRoc’s revenue stood at £29.8mn in the six months to 30 June this year, up 49.7% compared to £19.9mn over the same period of 2018. Group profit before tax at the end of H1 2019 stood at £3.5mn, compared to 2.8mn the previous year. SigmaRoc underlying EBITDA (Earnings Before Interest, Tax, Depreciation & Amortisation) for the analysed six-month period was £5.7mn (£4.8mn H1 2018).
David Barrett, SigmaRoc executive chairman, said: “We have completed another half year with excellent progress on the acquisition and improvement front. Two businesses have joined the Group expanding our footprint to South Wales and the North West of England, giving us further scale to the benefit of our group. The team is hard at work to integrate both new entities with good progress made in the first half and more to follow in the second. We also welcome a very eminent industrialist, Jacques Emsens, who is proposed to join our board as we make our first steps into mainland Europe. Excellent progress all round.”
SigmaRoc CEO Max Vermorken said: “We are very pleased with the progress made to date. From winning the BAA quarry of the year award, supplying major sea defence projects and continuously improving the businesses we have acquired. Our focus on safety has yielded positive results but a lot remains to be done. The second half should see us deliver more from our existing business and enter new markets with significant potential for the Group. We remain optimistic as ever about the potential of our strategy and the results we can deliver for shareholders.”
