SigmaRoc’s trading update indicates that FY25 earnings are 10% ahead of expectations leading Zeus to upgrade profit and eps estimates by c. 9%. This follows the c. 5% eps upgrade we put through at the time of the Q3 update in October (21st). The operational trends in H2 are similar to those seen in H1 with core volumes down c. 3%. A strong performance on cost synergies has more than offset lower volumes, with the bottom end of the synergy target range being achieved two years early. Proforma rev ....