SigmaRoc records revenue increase following £853m acquisitions

SigmaRoc has seen its revenue reach £214m in the first quarter of its financial year, remaining in line with expectations, with acquisitions being listed as the driving factor behind the increase.

The AIM-listed group’s chief executive officer, Max Vermorken, said its £853m acquisition of CRH, which completed in November, has been "transformational" for the firm, which saw it take over the Dublin-based firm’s operations in Ireland, Germany and the Czech Republic.

As part of the deal, CRH also gave SigmaRoc the option to acquire further businesses in the UK and Poland for £217m, completing the former acquisition last month.

As part of the Q1 results, SigmaRoc stated that volumes were 1% ahead of its budget, which helped to contribute to the revenue increase.

Furthermore, the group’s EBITDA was said to have performed in line with management’s expectations, with "continued margin improvement".

Vermorken said: "I reported at the time of our final results that the first two months of the year had started well, and I am pleased to say that this trend has continued in March with trading remaining in line with our expectations.

"The integration of our initial lime acquisitions is continuing well. We recently completed the UK acquisition, and we are now focussed on integrating all the acquired businesses, delivering on synergies and further strategic initiatives, and progressing to take control of the Polish assets that are the final part of this transformational deal."

The results were released before the firm’s annual general meeting, which is taking place today.



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