Project Scotland

Breedon hints at further acquisitions

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BREEDON Aggregates said the business is “confident” of meeting 2016 market expectations after announcing its unaudited interim results for the six months ending 30 June 2016.

The firm called it an “excellent first-half operating performance” that saw a 2% increase in revenue from £160.5 million in the same period in 2015 to £163 million. Profit before tax has increased 19% to £20.9 million from £17.5 million last year.

Breedon has also advanced its integration planning for the acquisition of Hope Construction Materials. The completion of the acquisition is expected on 1 August and further ‘bolt-on’ acquisitions are being considered.

Executive chairman, Peter Tom CBE, said, “Whatever the prognosis for the UK economy, we remain confident that we can continue to generate value for our shareholders.

“We have some major contracts which will help to underpin our performance during a period of uncertainty, along with a strong balance sheet and a record of strong cash generation in challenging markets.”

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