Revenue rockets at Breedon
Revenue at construction materials group Breedon rocketed by more than £200 million during its latest financial year.
The firm, which has operations across Shropshire and the West Midlands, saw revenue rise by 32 per cent to £862.7 million and pre-tax profits up 12 per cent to £79.9 million for the year to December 31.
Breedon also confirmed that it sold 19.4 million tonnes of aggregates in the year, up from 16 million, while 2.8 million tonnes of asphalt were sold, a rise from 1.9 million.
A total of 3.2 million cubic metres of ready-mixed concrete were sold compared to 3.3 million in 2017.
A further £50 million was also invested in operational improvements, increased capacity and extension to reserves.
The firm said it was confident of making further progress this year.
Peter Tom, executive chairman, said: "We can be justifiably proud of our results. We outperformed the GB market in sales volumes of all our key products, grew our revenues and Underlying EBIT, and once again generated strong cash flow, enabling us to pay down a material proportion of our post-Lagan debt by the year-end.
"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."
