Business
SigmaRoc plc Interim Results
SigmaRoc plc Interim Results.
About this update from Sigmaroc Plc
[{"type":"text","content":"\n \nRNS Number : 5648Q SigmaRoc PLC 13 September 2017 \n\nSigmaRoc plc/ EPIC: SRC / Market: AIM / Sector: Mining\n13 September 2017\nSigmaRoc plc ('SigmaRoc' or the 'Company')\nInterim Results\n \nSigmaRoc plc, the AIM listed buy-and-build construction materials group, announces its unaudited interim results for the six months ended 30 June 2017. \n \nHighlights:\n\n\n\n\n \n\n\n6 months to 30 June 2017\nSigmaRoc\n\n\n6 months to 30 June 2016\nRonez\n\n\nChange\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenue\n\n\n£13.1m\n\n\n£11.8m\n\n\n11.8%\n\n\n\n\nOperational* EBITDA\n\n\n£2.9m\n\n\n£1.9m\n\n\n52.6%\n\n\n\n\nOperational* profit\n\n\n£2.0m\n\n\n£1.0m\n\n\n100.0%\n\n\n\n\nNet debt/(cash)\n\n\n£8.3m\n\n\n(£0.6m)\n\n\n1,487.1%\n\n\n\n\n \n* Operational results are stated before holding company costs, acquisition-related expenses, redundancy and reorganisation costs, property items, amortisation of acquisition intangibles and related tax items. Operational results are presented as the closest comparable on a like-for-like basis with Ronez in 2016. References to an operational profit measure throughout this announcement are defined on this basis.\n \nAcquisitions:\n \n· Successful acquisition of Ronez Limited ('Ronez'), the Channel Island construction materials producer in January for £45m;\n· Successful acquisition of a dry bulk carrier ship and the creation of SigmaGsy Limited ('SigmaGsy') shipping division in April 2017;\n· Santander Term facility of £18m secured in addition to £2m revolving credit facility;\n· Strong pipeline of target companies having reviewed 12 targets to date;\n· Several targets currently between exclusivity and early analysis;\n \nIntegration & operations:\n \n· Successful creation of back office infrastructure significantly ahead of time and budget;\n· Delivery of key operational improvements in H1 2017, leading to a 52.6% operational EBITDA increase versus H1 2016 on a like-for-like basis;\n· Successful launch of the Gold Card initiative for Safety and Operational reporting;\n· &nb...