SigmaRoc update builds share price

The price of shares in AIM-listed building material firm SigmaRoc (LON:SRC) was lifted 6.07% to 55.95p (as of 15:45 GMT) after it said that underlying results for the year would be significantly ahead of expectations. Management said that revenues for the 11 months to the end of November were 78% higher than during the prior year and the group believes that the trading environment will normalise during 2021.

CEO Max Vermorken commented: “The Group’s performance for the eleven months to 30 November 2020 is very strong given the context and risks we faced. The Group has continued to demonstrate that a decentralised business model focussed on local markets is a robust approach in our industry, particularly in challenging times. The Group is supported by a solid asset base and will continue to confront all challenges head-on while executing on its buy-and-build strategy to deliver further shareholder value.”