SigmaRoc PLC - Trading Update
(EPIC: SRC / Market: AIM / Sector: Construction Materials)
('SigmaRoc', the 'Company' or the 'Group')
Group returns to normal operating activity levels from May
For the five-month period ended
SigmaRoc has rigorously implemented government recommended health and social distancing protocols across all its operating regions. As such, the Group is pleased it could continue to operate at the majority of its operations and continue to serve customers, pay suppliers and thereby support its local communities in difficult times.
Across the months of April and May, restrictions in the
As a result of the solid trading performance and effective cash management strategies implemented, SigmaRoc's cash position increased from
Summary and outlook
The Group has delivered excellent results in the face of uncertainty, rapidly changing conditions and challenging working environments, thereby further demonstrating the resilience of its business model.
Providing accurate guidance for the remainder of the year would, however, be premature. Too many uncertainties remain in terms of future demand for construction materials in our key markets, as well as the state of the wider economy. However, the resilience of the business through April, together with the recovery in activity levels during May, gives the Board confidence that SigmaRoc will be able to manage effectively through the crisis and maintain progress in its growth strategy.
"I am very pleased to be reporting relatively strong results in a time of great uncertainty. The whole economy has felt the heavy impact the COVID-19 crisis has brought with it and so have we. However, our business model and management team have allowed us to respond quickly and effectively. I believe this further demonstrates the strength of our strategy and its implementation."
Max Vermorken, CEO of SigmaRoc, commented:
"Firstly, I would like to thank all of the Group's team members, who have shown exemplary drive and determination in the face of uncertainty and difficulty. Secondly, I would like to express my gratitude to our customers and suppliers who continued to support their local economies while keeping their staff safe. Lastly, I am proud of the flexibility of the SigmaRoc group in the face of fast changing conditions. Being a decentralised, local and entrepreneurial group allows us to be quick in our response in each area of our business."
Information on the Company is available on the Company's website, www.sigmaroc.com.
For further information, please contact:
Tel: +44 (0) 207 002 1080
Tel: +44(0) 207 409 3494
Tel: +44 (0) 203 100 2000
Peel Hunt (Co-Broker)
Tel: +44 (0) 20 7418 8900
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Tel: +44 (0) 207 002 1080
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via
This information is provided by RNS, the news service of the
Quick facts: SigmaRoc
Market Cap: £104.29 m
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