Pre-tax profit drop for Breedon despite sales rise
Construction materials group Breedon, which has quarries in Shropshire, saw pre-tax profits fall despite a rise in sales in the first half of its financial year.
In the six months to the end of June revenue grew 11 per cent to £742.7 million.
The profit figure was down five per cent to £56.5m.
Chief executive Rob Wood said the group's first class team had operated with great agility to deliver a strong start to 2023 and it was well-positioned for the second half of the year.
“The long-term structural dynamics driving infrastructure spending and housebuilding in GB and Ireland have not changed. To ensure we can efficiently and sustainably meet long-term demand for our essential construction materials, we have re-doubled our focus on those factors under our control; keeping our people safe and well while minimising the cost of production and maximising the value of the extensive portfolio of assets we own and acquire.
“By emphasising the operational factors we can influence, we will ensure we remain competitive and continue to deliver outstanding results. By challenging our procedures and practices, we can be sure we will be in the strongest possible position when our end-markets return to growth.”
