Concrete products group SigmaRoc PLC (LON:SRC) more than doubled profits as latest acquisitions Allen Concrete and Poundfield chipped in for the first time.
Revenues in the half year to June jumped 52% to £19.9mln, with underlying profits 139% higher at £2.8mln.
Max Vermorken, chief executive, said the improvement was achieved despite the extremely harsh winter that meant demand for farming-related products such as retaining walls picked up later than usual.
WATCH: Half-year results show SigmaRoc's acquisition strategy clearly works says CEO Vermorken
SigmaRoc’s business is split between the Channel Island and UK.
In Jersey, the business performed well despite some delays to orders for concrete and aggregates, while volumes rose in Guernsey.
In the UK the weather had more of an impact but the focus was on integrating Poundfield and Allen, which had gone well it said..
The group runs a buy and build strategy and is already looking for additional acquisitions to build up the business further.
“Our pipeline remains full giving us the possibility to select the opportunities that bring the strongest and fastest benefits.”
David Barrett, executive chairman, added that the two platforms that currently form SigmaRoc are performing well. and the group remains very well positioned for the future.
“Management expects to meet the board's expectations for the full year," he added.