Breedon, the construction materials group, has “started the year well,” according to a trading update, with order intake and volumes following usual seasonal patterns through the first three months of 2022.
The company noted that end markets remain supportive, leading to reported and like-for-like revenue growth of 16% over the first quarter of 2021.
Meanwhile acceptance of rising input costs, and the increasingly dynamic price environment across all major product groups, has enabled full cost recovery through the quarter and is “encouraging,” Breedon said.
Rob Wood, CEO, said: “We recognise that international events have increased macroeconomic uncertainty. Nonetheless, we are encouraged that our end markets, particularly infrastructure and housing, remain supportive and we have successfully recovered input cost inflation in the first quarter through dynamic pricing.
“Our business offers a natural hedge against inflation and we remain confident in the resilience of our local operational model. Normal seasonal patterns of activity are evident with orders and enquiries increasing throughout the quarter and we continue to trade in line with management expectations.”