17th Apr 2014 12:06
LONDON (Alliance News) - Breedon Aggregates Ltd reiterated confidence that it would meet expectations for 2014 as it had seen encouraging trading in the first quarter, in a statement Thursday ahead of the company's annual general meeting.
The company said that trading in the first quarter in England and Scotland had benefited from mild weather, and bolstered by assets it acquired from Aggregate Industries UK Ltd and Marshalls PLC last year.
Breedon said that the performance of the newly acquired operations had been encouraging. Following an agreement with the Competition Commission the company will sell a ready-mixed concrete plant in the Peterhead area and an asphalt plant in the Aberdeen area.
The remainder of the operations will be integrated into Breedon's Scottish business during the second quarter, it said.
The UK regulator is requiring the disposal of the assets after an inquiry into Breedon's acquisition of assets from Aggregate Industries in order to preserve competition.
"We remain optimistic about the prospects for the construction industry and, although it is still early in the year, we remain confident of delivering a performance in line with expectations in 2014," said Chairman Peter Tom in a statement.
Shares in Breedon were trading down 0.3% at 44.62 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Breedon