21st Dec 2020 09:52
(Alliance News) - Construction materials firm Breedon Group PLC on Monday said it expects to record an underlying profit for 2020, as positive trading continued into the fourth quarter of the year.
Underlying earnings before interest and taxes is set to be around GBP75 million in 2020, up 5.6% from consensus expectations of GBP71 million. However, this still reflects a 36% fall from GBP116.6 million in 2019.
For the month of November, revenue on a like-for-like basis was ahead of the year before, and the strong performance has continued into December, which Breedon partly attributed to benign weather conditions.
"The medium-term outlook for our markets remains positive, however, the ongoing Covid-19 pandemic and Brexit negotiations create continued economic uncertainty, resulting in limited visibility on trading conditions going into next year," the group stated.
Breedon will publish its annual results on March 10 next year.
Shares in Breedon were down 1.4% at 85.40 pence on Monday in London.
By Dayo Laniyan; [email protected]
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