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Breedon Group announces solid trading update

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World Cement,

Breedon Group – the UK’s largest independent building materials supplier – has announced a “solid performance” in the first ten months of the year.

According to its latest trading update, both volumes and revenues were ahead of 2016, as the company benefitted from the inclusion in its results of the former Hope Construction Materials business.

The acquisition of Hope Construction Materials, which includes the Hope cement plant, was completed in August 2016 for £336 million.

Breedon’s cement sales were “in line with expectations” the company said in the update, while sales of aggregates were up 46% and asphalt sales were up 2%. Under UK regulations, exact cement volumes are not disclosed.

“Assuming normal weather conditions for the remainder of the financial year, the groups underlying EBIT for the full year is expected to be in line with current market expectations” of between £74 and £83 million, the company continued.

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UK cement news