Monday, May 10, 2021

Breedon hails “encouraging” start to the year

Trading in the first three months of the year has been “encouraging” at Breedon, the construction materials group, according to a trading update, with “the typical seasonal pick-up in activity towards the end of the quarter.”

The Leicestershire-based company highlighted “good demand” in the GB market, where the business benefited from contributions from its CEMEX acquisition, combined with a “robust cement performance,” which more than offset the impact of COVID-19 restrictions limiting construction activity in the Republic of Ireland.

Overall, group revenues in the first three months of the year were approximately £264 million, an increase of 27% compared with the first quarter of 2020; a period that largely predated COVID-19 restrictions. On a like-for-like basis, revenues increased by 7 per cent.

Rob Wood, Chief Executive Officer, said: “Whilst we are still seeing some disruption from COVID-19, we are pleased to have delivered a good start to the year and believe the prospects for Breedon and for our industry are increasingly positive.”

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