Breedon announce interim results
Company pleased with performance as sales revenue and profits surge in first half of 2015
BREEDON Aggregates Ltd, the UK’s largest independent aggregates business, have announced their unaudited interim results for the six months ended 30 June 2015.
Group revenue for the half year of £160.5 million was 28% ahead of the comparable period last year (£125.2 million), while underlying EBITDA increased by 54% to £27.3 million (2014: £17.8 million) and EBITDA margin improved to 17.0% (2014: 14.2%).
Pre-tax profit was up 92% to £17.5 million (2014: £9.1 million), while operating profit rose by £8.5 million to £18.6 million and net debt was reduced by £4.7 million to £58.3 million.
A statement from Breedon said the Group’s underlying business was well ahead of 2014, with capital investment on track and several acquisition opportunities under review.
During the first half of 2015 Breedon sold 4.5 million tonnes of aggregates (2014: 3.6 million tonnes), 0.9 million tonnes of asphalt (2014: 0.7 million tonnes) and 0.4 million cubic metres of ready-mixed concrete (2014: 0.3 million cubic metres).
Commenting on the first-half results, Breedon’s executive chairman, Peter Tom CBE (pictured), said: ‘Trading during the first half was strong, with both the underlying business and recent acquisitions performing ahead of our expectations. March was a record month for the Group, with exceptional performances from both England and Scotland.
‘Assuming that current trading conditions continue through the second half of 2015, we believe that market expectations for the year will be exceeded.’
