SigmaRoc deliver a solid performance
Company says first full year produced results in line with expectations and forecasts
IN their year-end trading update, SigmaRoc plc say they delivered a solid underlying performance for the 12 months ended 31 December 2017, with results in-line with management expectations.
The company said the first full year of operations saw operational efficiencies achieved ahead of schedule, resulting in a positive financial performance for the group, further strengthened by the acquisition of two value-accretive businesses in Southern and Eastern England.
SigmaRoc say optimization initiatives for the newly purchased businesses have been launched and the board expects that these businesses will be structurally embedded and operationally integrated within the first half of 2018, with further operational improvement to follow as management delivers on its optimization programme.
Meanwhile, trading in the Channel Islands saw a slight increase year-on-year, with a slightly stronger market in Jersey, while Guernsey remained below its historical average performance.
SigmaRoc’s precast concrete cluster in Southern and Eastern England saw a good performance in the fourth quarter of 2017 and had a good year overall.
David Barrett, chairman of SigmaRoc, commented: ‘I am pleased to report that our first full year has produced a performance in line with our expectations and forecasts. We are confident that 2018 will be another year of transformational growth from both our current businesses and pipeline of further opportunities.’
Chief executive officer Max Vermorken (pictured) added: ‘We are very pleased the roll-out of our strategy is progressing at a solid pace. With our recent acquisitions forming a strong precast cluster, we look forward to extracting further value by bringing our assets closer together and extracting synergies.’
