Breedon, the construction materials group, is on track to deliver record earnings in 2022, according to a new trading statement regarding its performance for the 10 months to 31 October 2022.
Trading conditions during the second half have “remained supportive,” and the Leicestershire firm says this has enabled the company to fully recover rising input costs through robust pricing and disciplined cost management.
In the four months to October 2022, the business delivered revenue growth of 16% compared to the same period in 2021. This resulted in revenue of £1.19bn in the year to date, some 14% ahead of the equivalent reported period last year.
Rob Wood, CEO, said: “This time last year we reminded our investors of the agile and entrepreneurial DNA that sets Breedon apart. Our rapid response to changing market conditions, local focus, vertically-integrated business model and disciplined financial framework will again enable us to deliver record results.
“Visibility in the trading landscape has been poor for some years now, for a variety of reasons. Against this constantly changing backdrop, our team’s commitment and resolve have delivered quality products and great service to our customers, regardless of the economic or political landscape. For this, we thank them. Their focus and determination in turn continues to deliver for all our stakeholders.”
