Breedon Aggregates announces its audited annual results

Breedon Aggregates has announced its audited annual results for the year ended 31 December 2015.

Highlights from the report include:

• Continued improvement in trading performance, with record results from both England and Scotland.
• Underlying EBIT margin up 2.9% to 11.9%.
• £20+ million invested in capital projects.
• Our largest-ever contract finalised: £55 million contract on the Aberdeen Western Peripheral Route, in joint venture.
• Performance of 2014 acquisitions ahead of our expectations, particularly the former Barr business.
• Agreement to acquire Hope Construction Materials Limited for £336 million, subject to CMA approval: our largest acquisition to date.
• Outlook continues to be encouraging.

Peter Tom, Executive Chairman, commented:
“2015 was another significant year for Breedon. Our trading performance continued to improve and we again reported record results. We finalised our largest ever contract win and announced the planned acquisition of Hope Construction Materials. We are tremendously excited by the future potential for this business.

“Early in 2016 we were joined by our new Group Chief Executive, Pat Ward, whom I would like to once again warmly welcome to Breedon Aggregates. He succeeded Simon Vivian, who oversaw the successful development of the Group during its first five years and will continue to serve as a non-executive director.

“The outlook for our business continues to be encouraging. The Government remains committed to infrastructure investment and all the relevant forecasting bodies predict modest but sustained growth in construction output over the next few years. This means a steady growth in demand for our products. Against this background, volumes are expected to recover gradually to pre-recession levels by 2020.

“We begin an exciting new era in 2016 with the planned acquisition of Hope and we look forward to the future with confidence.”

Adapted from press release by Joseph Green

Read the article online at: https://www.worldcement.com/europe-cis/09032016/breedon-aggregates-announces-audited-annual-results-656/