SigmaRoc forecasts earnings beat; launches £12.4m equity raising

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Heavy construction materials group SigmaRoc said it expected its underlying annual results to be 'comfortably' head of market expectations amid a large rise in revenue.

The company also said it planned to raise £12.4 million from an equity issue priced at 51p a share, a 3.3% discount to its closing price on Tuesday.

SigmaRoc said the capital would fund its acquisition and investment pipeline.

Its revenue for the 11 months through November had jumped 78% year-on-year to £114 million.

'The group is optimistic as to the potential normalising market conditions in 2021 and has been buoyed by the UK government's commitment to infrastructure investment as part of its Covid-19 recovery strategy,' SigmaRoc said.

At 8:57am: (LON:SRC) SigmaRoc Plc share price was 0p at 49.5p


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