SigmaRoc see first-half profits more than double

Strong result and integration of businesses achieved in parallel with development of new opportunities 

AIM-listed buy-and-build construction materials group SigmaRoc have reported a 139.3% increase in underlying pre-tax profit, to £2.8 million, on revenue that was up 51.7%, to £19.9 million, in their unaudited interim results for the six months ended 30 June 2018.

Underlying EBITDA increased by 104.2%, to £4.8 million, in the first half, whilst underlying EBITDA margin rose 612bp to 23.8%. Earnings per share increased by 90.2% to £1.97.

Since the launch of the business in 2016, SigmaRoc have acquired four companies and now employ 225 people across six sites.

Commenting on the first-half results, chief executive officer Max Vermorken (pictured second from right) said: ‘With profits more than doubling from sales up 52% against a generally stable market background, the Group has begun to realize the potential that was initially identified in these businesses prior to purchase.

‘The fact this was delivered in parallel with the development of our acquisition pipeline is testament to the ability and capacity of the Group we have been able to build.

‘With the market, industry structure and acquisition pipeline opportunity remaining as good as ever, we look forward to actively developing our Group further and to updating all stakeholders on new opportunities in due course.’