Sigmaroc PLC (LON:SRC) said underlying revenue and profits surged in 2020 with the construction materials and aggregates group confident of further improvement this year.
The AIM-listed group stayed open at the start of the first lockdown in March a year ago, which it said helped deliver a very strong performance during the Coronavirus (COVID-19) pandemic.
Underlying revenues in the year to end-December 2020 rose by 76% to £124.2mln with underlying profit [EBITDA] up by 64% to £23.9mln. Pre-tax profit increased to £7.1mln from £2.2mln.
Max Vermorken, chief executive, added: “Looking forward, we continue to seek ways to invest, improve, integrate and innovate, and in the first quarter of 2021 we launched our cement-free concrete building block - Greenbloc.
“We also recently entered into an agreement with LafargeHolcim which will see an expansion of our aggregates operations in Belgium and, subsequent to that, we acquired two large-scale concrete suppliers in the Limburg area of Belgium."
“I am optimistic that with our great workforce and support of our investors, we can continue to further grow and achieve strong results in the months and years ahead"
Net debt at 31 December 2020 was £43.8 mln (2019: £49.8mln) and was refinanced on 21 December 2020.