Construction site
Rebecca Wayman

Construction materials firm's revenue rises almost 50% to £30m

Construction materials group SigmaRoc plc has released its unaudited interim results for the six months to June 30, 2019.

The London-headquartered group’s revenue has climbed to £29.8m, up from £19.9m in 2018, representing a 49.7 per cent increase.

SigmaRoc’s underlying EBITDA currently stands at £5.7m, up from £4.8m (18.8 per cent). The firm’s underlying profit-before-tax now lies at £3.5m, a 25 per cent increase compared to 2018’s £2.8m mark.

The underlying results are stated before the likes of acquisition-related expenses, restructuring costs and certain finance costs.

David Barrett, SigmaRoc’s 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.”

South Wales and SigmaPPG platforms have also expanded through acquisitions, while CCP integrated into SigmaPPG with significant restructuring undertaken.

Meanwhile, the company’s safety culture has supposedly been improving with a health and safety officer established across the group to drive consistency and ensure best practice. The group also now has close to 500 employees across 26 production sites.

Max Vermorken, SigmaRoc’s CEO, added: “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.”

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