Page 214 - Sigmaroc Annual-Report 2023

SIGMAROC ANNUAL REPORT 2023 FINANCIAL REPORT
Notes to the financial statements
7. REVENUE
Upstream products Value added products Value added services Other
Consolidated
31 December 2023 £’000
94,202
75,244 401,012 52,292 9,445 537,993
Upstream products revenue relates to the sale of aggregates and cement. Value added products is the sale of finished goods that have undertaken a manufacturing process within each of the subsidiaries. Value added services consists of the transportation, installation and contracting services provided.
All revenues from upstream and value added products relate to products for which revenue is recognised at a point in time as the product is transferred to the customer. Value added services revenues are accounted for as products and services for which revenue is recognised over time.
The Group contracting services revenue for the year ended 31 December 2023 was £27 million (2022: £24.9 million). Refer to note 2.20 for further information on contracting services.
8. EXPENSES BY NATURE
Cost of sales
Changes in inventories of finished goods and work in progress Raw materials & production
Distribution & selling expenses
Employees & contractors
Maintenance expense
Plant hire expense
Depreciation & amortisation expense Other costs of sale
Total cost of sales
Administrative expenses Operational admin expenses Corporate admin expenses
Total administrative expenses
Consolidated
31 December 2023 £’000
31 December 2022 £’000
9,287
188,419
41,764
122,148
25,167
7,358
31,138
15,795
441,076
51,242
47,211
98,453
9,003 198,984 43,671 71,936 21,543 6,449 30,085 40,385 422,056
42,455 22,815 65,270
Corporate administrative expenses include £36.6 million (2022: £14.1 million) of non-underlying expenses (refer to Note 11).
31 December 2022 £’000
422,301
53,334
10,448
580,285