BREEDON Group has hailed “one of the most productive years” in the firm’s history after the latest financial figures revealed significant rises in both turnover and pre-tax profit.
Revenue is up 43% to £652.4 million for the year ended 31 December 2017, while pre-tax profit has increased by 52% to £71.2 million.
The business highlighted “strong organic earnings growth” and the contributions made by acquisitions.
Executive chairman Peter Tom CBE said, “2017 was one of the most productive years in our history. We completed the integration of our largest-ever acquisition, concluded two bolt-on purchases and announced an important transaction with Tarmac that, subject to approval by the competition authorities, will see us streamline our ready-mixed concrete network in exchange for a substantial new reserve of minerals and a strategically valuable asphalt plant. This did not, however, distract us from our operational focus and we once again delivered a solid financial performance.
“Our business is in great shape and we are well positioned to benefit from the medium-term growth in residential and infrastructure development, to which the majority of our material is supplied. We look to 2018 and beyond with confidence and optimism.”