SigmaRoc PLC AGM Trading Update (0447Z)

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 
                                                   [e-mail] 
 

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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May 19, 2021 02:00 ET (06:00 GMT)