Significant growth for Breedon Aggregates
Published: 09 March, 2016
Breedon Aggregates has announced its audited annual results for the year ended 31 December, 2015.
Revenues for 2015 reached £318.5m, showing growth of 18.1% compared with 2014 figures (£269.7m). This resulted in profits before tax of £31.3m, a 46.4% increase on the year before.
Underlying EBIT figures reached £37.8m for the year, compared with £24.3m in 2014. These underlying results are stated before acquisition related expenses, redundancy and reorganisation costs, property items, amortisation of acquisition intangibles and related tax items.
The company sold 8.7m tonnes of aggregates, 1.8m tonnes of asphalt and 0.9m cubic metres of ready-mixed concrete, enjoying record results from both England and Scotland.
Breedon Aggregates also finalised its largest ever contract - a £55m joint venture project on the Aberdeen Western Peripheral Route. The business also reached an agreement to acquire Hope Construction Materials Ltd for £336m, subject to CMA approval, which is its largest acquisition to date.
Executive chairman of Breedon Aggregates, Peter Tom, said: "2015 was another significant year for Breedon. Our trading performance continued to improve and we again reported record results.
"The outlook for our business continues to be encouraging. The government remains committed to infrastructure investment and all the relevant forecasting bodies predict modest but sustained growth in construction output over the next few years. This means a steady growth in demand for our products. Against this background, volumes are expected to recover gradually to pre-recession levels by 2020.
"We begin an exciting new era in 2016 with the planned acquisition of Hope and we look forward to the future with confidence."