SigmaRoc PLC (AIM:SRC) delivered a strong first-half financial performance, boosted by a recent spate of acquisitions and supported by a strong underlying performance from the quarried materials group.
Revenues grew by 55.5% to GBP84.8mln, with underlying earnings (EBITDA) up almost 40% at GBP15.2mln.
It ended the six months to June 30 with GBP19.9mln in the bank thanks to its strong profit generation and “effective cash management”.
The period saw the group achieve a number of commercial and operational landmarks. Chief among them was the purchase of B-Mix, the expansion of the Belgian aggregates operation and the joint venture agreement with Carrieres du Boulonnais.
It recently agreed to buy Nordkalk for EUR470mln, representing its biggest deal to date.
“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,” said chief executive, Max Vermorken.