Breedon Group reports 18% revenue increase
UK-based Breedon Group has reported an 18 per cent YoY rise in revenue to GBP447.4m for the first six months of 2019. Pretax profit advanced 30 per cent to GBP39.5m, compared to GBP30.4m in the 1H18.
Ready-mix concrete volumes fell five per cent from 1.6Mm3 to 1.5Mm3, but cement sales were up from 0.9Mt to 1Mt in the 1H19. The company also saw aggregate sales climb six per cent to 9.9Mt from 9.3Mt.
"The period began well, with benign weather in the first quarter and generally healthy demand for our products, particularly in England, Wales and the Republic of Ireland, somewhat offset by fewer large projects in Scotland. Our performance in the second quarter was adversely impacted by lower volumes in Great Britain due to a flat construction market, ongoing project delays and competitive trading conditions. However, demand in Ireland remained robust," said Pat Ward, Group CEO.
