Breedon Ireland reports 48% profit growth in 2022

Breedon Ireland, the Irish cement-making business of the UK-based Breedon Group, reported profit of EUR21.5m in 2022, up 48 per cent from EUR14.5m in the previous year. Revenue over the same period advanced 21 per cent to EUR72.8m, according to Irish Independent.

The results come despite higher energy prices and fears over what impact the government’s planned concrete levy would have on the residential construction market. In 2022 the Irish government announced a five per cent concrete levy on pouring concrete and concrete blocks to help meet the cost of remediating homes where defective concrete products had been used. The levy came into effect in September 2023. 

Breedon’s Irish operation is based in Kinnegad, and sells to both the Irish and UK market. Despite the new levy, residential housing construction is expected to remain strong in Ireland due to the Irish government’s EUR165bn national development plan targeting investment in public housing, along with infrastructure including roads and transport. The government’s 'Housing for All' plan aims to complete at least 33,000 new homes each year.