Breedon surges ahead

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Construction materials group Breedon outperformed the GB market in sales volumes across all its key products as it surged towards an £862.7m turnover last year.

The 32% increase was accompanied by a 29% hike to £103.5m in underlying EBIT and a 12% boost in pre-tax profit to nudge close to £80m.

Executive chairman Peter Tom said 2018 was “not the easiest of years”. He added: “It began with severe winter weather conditions and, despite some recovery in the second half of the year, ended with confirmation that over the full 12 months there was little growth in construction output in GB.”

Against that backdrop the group sold 19.4 million tonnes of aggregates (2017: 16 million), 2.8 million tonnes of asphalt (1.9 million) and 3.2 million cub. metres of ready-mixed concrete sold (3.3 million).

Tom continued: “We can be justifiably proud of our results. Our company is in excellent shape and well placed to benefit from the medium-term growth predicted for our markets. We have a strong asset base, a highly cash-generative business and a talented management team, all of which give us a significant competitive advantage whatever the market conditions.

“We are confident of making further progress in the current year.”

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©Scottish Plant.  Article posted 6/3/2019