StockMarketWire.com - Sigma has reported a drop in profits in the nine months to 30 September 2020, but maintain that results are in line with market expectations.

The group reported a revenue of £8 million for the period, down from £13.9 million the previous year. Additionally, Sigma reported a 75.4% decrease in profits before tax.

Earnings per share is down to 2.84p from 11.63p for the year ending December 2019.

Net assets grew however, up £0.6 million, to £61.1 million. Cash balances too remain strong, increasing to £25.8 million from £16.8 million.

Across the nine month period, construction activity is estimated to have decreased by 25%.

Graham Barnet, CEO of Sigma Capital Group said: 'Sigma's final results reflect the impact of the coronavirus crisis and the shorter nine month reporting period, following the change of year end.'

However, the group have heralded their resilience in bouncing back after the opening up of the construction and lettings industries in May 2020 following the first UK lockdown.

'The business is in a very strong position, financially and operationally,' Barnet added.




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