Encouraging first quarter for Breedon

Company pleased with performance of newly acquired operations in England and Scotland

SPEAKING at Breedon’s recent AGM, chairman Peter Tom CBE said trading in the first quarter had been encouraging in both England and Scotland, helped by the generally mild weather which contrasted sharply with snow and freezing temperatures in the comparable period last year.

‘This, together with the contribution from the assets acquired from Aggregate Industries (AI) and Marshalls last year, has resulted in a strong year-on-year performance,’ he commented.

‘We continue to be very encouraged by the performance of these newly acquired operations and I am particularly pleased that we have now reached agreement with the Competition Commission regarding the two disposals and associated undertaking they require in respect of the former AI business. We will be in a position to fully integrate the remainder of these operations into our Scottish business during the second quarter.’

Looking ahead, Mr Tom said Breedon remained optimistic about the prospects for the construction industry and, although it is still early in the year, confident of delivering a performance in line with expectations in 2014.

The company will give a further update on the Group’s progress in its interim results announcement on 17 July 2014.