- First half revenue up 17 per cent to £290mn
- Cash profit rises 15 per cent to £55mn
- Interim EPS increases 11 per cent to 4p
- Acquisition programme completes
SigmaRoc (SRC:62.6p), a group pursuing a buy-and-build strategy in the heavy building materials sector, has delivered an eye-catching first half trading performance that more than justifies the 16 per cent share price rally since the first half results (‘Lock in this 15 per cent free cash flow yield’, 27 March 2023).
The group’s strategy is to buy, improve and integrate platforms of companies in the heavy building materials sector, focusing on cash-generative assets in niche markets that produce aggregates, concrete, and other related assets. Acquisition targets are asset-backed and have strong market positions in mainly regional markets, so are protected by strong customer relationships as well as providing scope to add value through operational efficiencies.