The year started well across the group with strong sales in every platform,” said Max Vermorken
SigmaRoc PLC’s (LON:SRC) trading in the first four months of the year has been ahead of internal expectations.
The construction materials company, in a statement ahead of today’s AGM, said that it generated £36.7min of revenue during the first quarter and that marked a 12% increase on the same period last year. Margins and cash generation continued to be strong in the quarter, SigmaRoc added.
It highlighted that the performance was driven by both organic growth and the contribution of operations acquired last year. Momentum continued into the second quarter, it noted, with further like-for-like growth for the month of April.
SigmaRoc investment and improvement strategy firmly in place, says broker
In a note, analysts reiterated their ‘buy’ rating on the construction materials group and increased their price target to 105p from 82p
SigmaRoc PLC’s (LON:SRC) investment and improvement strategy remains “firmly in place” following its final results, said analysts at Peel Hunt.
In a note, analysts reiterated their ‘buy’ rating on the construction materials group and increased their price target to 105p from 82p, saying the firm’s results on Tuesday showed stronger-than-expected trading after the initial lockdown has “clearly helped” the firm and that it has also been successful in making key acquisitions and investments.