SigmaRoc flags earnings ahead of market expectations

Quarried materials specialist SigmaRoc said in a trading update on Monday that revenues up to 30 November totalled £498m, up 20% year-on-year on a like-for-like basis.

The AIM-traded firm said demand conditions had “evolved broadly” as expected across its market segments, as it benefited from its “broad” end-market and geographic diversification.

It said it was managing cost pressures through dynamic pricing, savings initiatives and performance improvement programmes.

Underlying earnings per share for the full year ending 31 December were expected to be around 10% ahead of market expectations, while its outlook for 2023 remained unchanged.

SigmaRoc said it had an “active pipeline” of acquisition and investment opportunities, with the potential to “significantly” develop the group.

“Nothing easy is worth doing and 2022 wasn't easy - well done to our nearly 1,860 staff,” said chief executive officer Max Vermorken.

“While it is likely that 2023 will present further unforeseen challenges, the agility of our business model and the diverse footprint of the group will help us confront them as they arise.

“Naturally we keep a keen eye on ideas and projects which will help drive further growth.”

At 0854 GMT, shares in SigmaRoc were up 3.05% at 56.68p.

Reporting by Josh White for Sharecast.com.