LONDON (Alliance News) - SigmaRoc PLC on Thursday said it expects to report double digit revenue growth in 2018 on improved performance of its Ronez division.
The AIM-listed construction materials company said it expects to report a strong performance in 2018, with revenue up 52% higher year-on-year at GBP41.2 million. Meanwhile, earnings before interest, taxes, depreciation, and amortization are anticipated to be in line with forecasts.
SigmaRoc said its Ronez business has continued on its path of improved operational efficiency and is expected to deliver increased operating profit compared to 2017. Ronez is a Jersey-based quarry operator and producer of construction materials.
Separately, the company said over 75% of its noteholders have passed the written resolution accompanying the tender offer.
At the end of December, SigmaRoc invited holders of the notes to tender the GBP10 million 6% convertible unsecured notes, due January 2022. The purpose of the written resolution was to seek noteholders' approval to sanction the proposed purchase of all the notes contemplated by the tender offer.
"I am grateful for the backing shown by both shareholders and finance providers for the refinancing of the convertible loan notes, showing further confidence in our business and the ability of those who work here," said SigmaRoc Chair David Barrett.
SigmaRoc shares were trading 2.6% higher on Thursday at 41.25 pence each.
Sigmaroc. (SRC)