SigmaRoc reports strong growth in first half

Quarry materials company SigmaRoc reported a 55.5% improvement in underlying revenue in its first half on Monday, to £84.8m.

The AIM-traded firm said its EBITDA was ahead 39.8% year-on-year for the six months ended 30 June, at £15.2m, while profit before tax jumped 63.8% to £8.7m, both on an underlying basis.

Underlying earnings per share came in at 2.68p, up 35.4% over the same period last year, while cash and cash equivalents totalled £19.9m at the end of the half-year, which was an improvement of 15.4%.

Operationally, SigmaRoc described its first half as “strong” despite ongoing challenges from the Covid-19 pandemic, as it launched its cement-free, ultra-low carbon concrete block ‘Greenbloc’, and expanded its Belgian aggregates operations.

It also acquired B-Mix in the period, creating new European platforms, signed a joint venture agreement with Carrières du Boulonnais, and conditionally agreed to acquire Nordkalk via a reverse takeover.

“The group's performance across the first six months of 2021 has been very strong and all of the SigmaRoc team have worked hard to deliver these excellent results,” said chief executive officer Max Vermorken.

“We have delivered attractive acquisitions in Belgium, which are already providing meaningful contribution to the Group's top and bottom line.

“The acquisition of Nordkalk will be a great stepping stone in the evolution of the group, expanding our footprint across northern European markets, and will bring significant earnings growth and cash generation to the group.”

At 1449 BST, shares in SigmaRoc were up 2.46% at 104p.