Sigmaroc trades ahead of internal expectations in Q1

Construction materials firm Sigmaroc said on Wednesday that despite ongoing disruptions caused by the Covid-19 pandemic, trading across the group in the first four months of the year had been ahead of internal expectations.

Sigmaroc generated revenues of £36.7m the first quarter, a like-for-like increase of 12% year-on-year, with the first quarter of 2020 being "largely unaffected" by the pandemic.

Alongside organic growth and contributions from acquisitions made in 2020, Sigmaroc added that both margins and cash generation continued to be "strong" in the quarter.

Looking forward, the AIM-listed group said the positive momentum seen in the first quarter had continued into the second, with its April performance demonstrating further like-for-like growth versus March and "very significantly ahead" of April 2020.

Building on the positive start to the year, Sigmaroc said the outlook for the group remained "favourable", with strong demand across all products and platforms.

Chief executive Max Vermorken said: "The year started well across the group with strong sales in every platform. We were able to deliver three attractive acquisitions in Belgium, which are contributing well to the group's top and bottom line.

"Several initiatives for further organic and acquisitive development of the business are being considered further to improve the strategic footprint and the bottom line of the group."

As of 1015 BST, Sigmaroc shares were up 1.02% at 83.34p.