Positive first half for Breedon Aggregates

Company enjoys increase in revenue and profits in the six months to the end of June 2013

BREEDON Aggregates have reported a positive start to the year with turnover up 21% to £100.2 million for the six months to 30 June 2013, compared with the same period last year, while underlying pre-tax profit increased from £2.2 million a year ago to £5.3 million this year.

Likewise, underlying EBITDA was up 34% to £13.0 million in the first half, and underlying operating profit increased by 69% to £6.6 million.

Commenting on the results, Breedon’s executive chairman Peter Tom (pictured) said the general outlook for construction in the UK was looking more positive than it did at this time last year.

‘The decline in construction output appears to be levelling out and there is no doubt that a sustained recovery in the housing market is already under way,’ he said. ‘Fears about the economy sliding back into recession have receded and some confidence appears to be returning to the sector.

He continued: ‘We expect product volumes in the second half of the year, on a like-for-like basis, to be slightly ahead of the comparable period last year, with the exception of asphalt which will continue to suffer from reduced local authority spending until recently allocated funding starts to come through.

‘The Group has performed well in the first six months of 2013 and we expect to make further progress in the second half.’