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Sigmaroc says final results will exceed analysts’ expectations, has enough liquidity in place to weather coronavirus storm

The company remains operational across all its sites, but all staff who can work from home are doing so

SigmaRoc - Sigmaroc’s final results will exceed analysts’ expectations, enough liquidity in place to weather coronavirus storm

SigmaRoc PLC (LON:SRC) said it expects to report a strong performance from its businesses for the financial year ending 31 December 2019, exceeding analyst estimates.

In a statement, the construction group said its revenues are expected to reach £70mln, a 71% increase on the previous year, while underlying operational profits (EBITDA) will hit £14mln, a 43% increase on the previous year.

The group added that its adjusted leverage ratio, which compares net debt to underlying EBITDA, was 2.1 times, as at 31 December 2019, adjusted for pre-acquisition earnings.

SigmaRoc intends to publish its consolidated audited results for the year ending 31 December 2019 on 20 April 2020.

Meanwhile, in response to the coronavirus pandemic the company said it has strictly implemented all government recommendations, established safety measures, and prepared operational and financial contingency plans.

As a result, and as at 24 March 2020, the company added, it remains operational across all its sites, although this is under continual review. Operating conditions remain in-line with government guidelines, and all staff who can work from home are doing so.

The company is confident it has sufficient liquidity to navigate the coronavirus crisis, with its credit facilities providing additional headroom.

Assuming safe conditions can be maintained across our operational sites SigmaRoc said it remains committed to servicing its customers, keeping its workforce employed and supporting local communities.

Quick facts: SigmaRoc

Price: 23.5 GBX

AIM:SRC
Market: AIM
Market Cap: £59.63 m
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