Company issues positive trading update in advance of today’s Annual General Meeting
IN a trading update released ahead of today’s Annual General Meeting, Breedon Group say they have started the year well with order intake and volumes following usual seasonal patterns through the first three months (Q1) of 2022. With end markets remaining supportive, the Group has seen reported and like-for-like revenue growth of 16% over the same period of 2021.
Moreover, Breedon say acceptance of rising input costs, and the increasingly dynamic price environment across all major product groups, has enabled full cost recovery through the quarter and is encouraging.
Chief executive officer Rob Wood commented: ‘We recognize that international events have increased macroeconomic uncertainty. Nonetheless, we are encouraged that our end markets, particularly infrastructure and housing, remain supportive and we have successfully recovered input cost inflation in the first quarter through dynamic pricing.
‘Our business offers a natural hedge against inflation, and we remain confident in the resilience of our local operational model. Normal seasonal patterns of activity are evident with orders and enquiries increasing throughout the quarter and we continue to trade in line with management expectations.’
Breedon will announce their interim results for the six months ending 30 June 2022 on Wednesday 27 July 2022.