SigmaRoc PLC Trading Update (5848P)
20 Octubre 2021 - 01:00AM
UK Regulatory
TIDMSRC
RNS Number : 5848P
SigmaRoc PLC
20 October 2021
20 October 2021
(EPIC: SRC / Market: AIM / Sector: Construction Materials)
SIGMAROC PLC
( ' SigmaRoc ' , the 'Company' or the 'Group' )
Trading Update
SigmaRoc (AIM: SRC), the AIM quoted buy-and-build construction
materials group, is pleased to update the market on its trading
performance during the third quarter of 2021.
Trading
Further to the update provided at the time of its interim
results, on 23 August, the Board is pleased to report that the
strong trading performance seen during the first half, continued
through the third quarter. As a result, the Group generated
revenues of GBP73m in the three months to 30 September 2021.
Sustained demand across the Group's broad range of geographical
and product markets, together with effective management of the
challenging supply chain environment, resulted in all platforms
delivering Q3 results in line with management's expectations. In
addition, following receipt of regulatory clearances in Poland, the
Group completed its acquisition of Nordkalk Oy Ab ("Nordkalk") on
31 August 2021. The integration of Nordkalk into the Group is
progressing well, with the business trading as expected through the
period.
Outlook
Demand in the third quarter for precast products in the UK and
aggregates, concrete and dimension stone in the Benelux market
continued the positive trend seen in the first half of the year. In
Jersey, planning permission has been granted to allow a large
extension to the Ronez quarry, and in South Wales margins are
continuing to improve as a result of the ongoing review of
efficiencies.
Recent and ongoing increases in energy costs are being seen
across all industries, and the availability of haulage and
transport is also presenting challenges, particularly in the UK.
The Group is keeping these challenges constantly under review, and
steps have been taken to mitigate these, including the strategic
fixing of certain hydrocarbon costs, ongoing business reviews to
optimise production and efficiency, price increases where
necessary, the sourcing of additional haulage as well as investing
in our own heavy goods vehicles and drivers.
The outlook for the Group for the remainder of the year remains
positive, with the sustained demand seen across our businesses
expected to continue into the fourth quarter. Supply chain and
inflationary pressures are being managed effectively, with the
benefit of the Group's diversified platform model enabling local
market-specific plans to be implemented.
Max Vermorken, CEO commented:
"The third quarter has delivered solid results, building on our
momentum from the first half of the year. We have delivered a
transformational acquisition with Nordkalk and this is already
beginning to deliver significant earnings growth and cash
generation. The Group is well positioned to continue its strong
performance and to develop future opportunities.
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
Dean Masefield / 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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