Year-on-year profits double after £45m. Ronez purchase

Business | Published:

SIGMAROC, the parent company of Ronez quarries, has doubled its profits year-on-year in the first half of 2017.

SigmaRoc chief executive Max Vermorken at the Ronez quarry in Jersey. The firm is doing well despite a slump in Guernsey, while in the ‘other island’ a roadworks programme and house building are driving volumes. (Picture by Jon Guegan, 19383638)

The business, which acquired Ronez from Aggregate Industries for £45m. at the beginning of the year, has reported operational profits, before tax and exceptional costs, of £2m., up from £1m. for Ronez in the same period of 2016. Revenue for the six months was £13.1m., up 11.8%.

The successful financials come despite a slump of business in Guernsey, the firm reported, saying it was ‘below historical levels’.

Chief executive Max Vermorken said that demand in Jersey had been in line with expectations, with a roadworks programme in the island driving volumes in asphalt and aggregates, and house building under-pinning volumes in ready-mixed concrete.

SigmaRoc also set up a dry bulk carrier ship business, SigmaGsy.

Full story in today's Guernsey Press


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