Half year sales and profits grow for Breedon
Construction materials group Breedon enjoyed growth in both sales and profits in the first six months of this year.
The group, which has quarries in Shropshire, saw revenue rise 12 per cent to £671.1 million.
Pre-tax profit was ahead by 29 per cent to £59.5m for the period.
Breedon said that despite the economic and political backdrop growing increasingly uncertain in the half year it was optimistic for the remainder of 2022 with customers’ order books healthy.
Infrastructure demand is being well supported by large long-term projects and centrally funded schemes, material industrial projects are also coming to market driven by the environmental agenda and house building order books remain robust.
Chief executive Rob Wood said: “We enjoyed a strong start to 2022. Our teams are focused on getting pricing right, our end market exposure is supportive and that has produced excellent results, advancing our margins and returns towards our medium term targets."
He added: "We have continued to invest in our team as we prepare for our next chapter of growth and that was reflected in our recent engagement survey where response and engagement rates were the highest ever. Our colleagues are embracing the challenges presented by the uncertain backdrop, remaining focused on responding nimbly to local market requirements, winning new business, driving efficiencies and delivering first-class service to our customers. Now more than ever, our agile and entrepreneurial DNA will set us apart.”
