Breedon report strong first-half trading

Revenue up 25% and underlying pre-tax profit up 77% in the first six months of 2014

Breedon Aggregates Ltd, the UK’s largest independent aggregates business, have reported a strong improvement in trading for the six months to 30 June 2014, with revenue up by 25% (including acquisitions) to £125.2 million, compared with the same period in 2013 (£100.2 million).

Breedon said volumes were ahead in all key product groups in the first half of 2014, with aggregates sales up 31% to 3.6 million tonnes (2013: 2.7 million tonnes), asphalt sales up 16% to 0.7 million tonnes (2013: 0.6 million tonnes) and ready-mixed concrete sales up 15% to 326,000 cubic metres (2013: 283,000 cubic metres).

Underlying EBITDA for the half was up 37% to £17.8 million (2013: £13.0 million) and underlying EBITDA margin was up by more than one percentage point to 14.2%. Underlying operating profit was up 57% to £10.4 million (2013: £6.6 million) and underlying pre-tax profit was up 77% to £9.4 million (2013: £5.3 million).

‘The business has performed well in the first half of the year and we expect to make further progress during the second half,’ commented executive chairman Peter Tom CBE (pictured). He added that a number of acquisitions and internal investment opportunities were currently under review and further business development activity was anticipated in the coming months.