Revenue rockets at Breedon
Revenues at construction materials group Breedon have jumped 32 per cent to approximately £739 million during the 10 months to the end of October.
The business, which has operations across Shropshire and the West Midlands, said the increased revenues includes more than six months' contribution from the former Lagan Group, which "traded strongly".
In the period to October 31 2018, Breedon said it has seen improved underlying EBIT and continuing strong cash generation, "despite the challenges of a flat construction market in Great Britain and rising input costs".
Group sales volumes of aggregates increased by 21 per cent and asphalt by 45 per cent compared with the prior year.
However, Breedon added that, in common with the rest of the market, its concrete volumes declined, by five per cent but said that its cement business performed in line with its expectations.
The business said that assuming normal weather conditions for the remainder of the financial year, the group's underlying EBIT for the full year is expected to be in line with current market expectations.
