25th Jul 2019 11:21
(Alliance News) - Breedon Group PLC on Thursday said it expects to deliver even "stronger" performance in the second half following a surge in first half earnings.
The construction materials company said pretax profit in the six months to the end of June rose by 30% to GBP39.5 million from GBP30.4 million a year prior, as revenue increased by 18% to GBP447.4 million from GBP378.4 million.
During the period, the company reported an improvement in its asphalt and aggregates sales, which rose to 1.4 million tonnes from 1.2 million tonnes, and to 9.9 million tonnes from 9.3 million tonnes, respectively.
Meanwhile, ready-mixed concrete sales slipped to 1.5 million cubic metres from 1.6 million cubic metres.
"We are pleased once again to be reporting an improved performance by the group in the first half. The period began well, with benign weather in the first quarter and generally healthy demand for our products, particularly in England, Wales and the Republic of Ireland, somewhat offset by fewer large projects in Scotland," explained Chief Executive Pat Ward.
Ward added: "Despite the near term uncertainties, July has started well and enquiry levels in Great Britain are encouraging, giving us confidence in a stronger second half."
Breedon shares were trading 1.5% higher on Thursday in London at 61.70 pence each.
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