Breedon may seek €370mn plus equity issue

Breedon Aggregates' executive chairman Peter Tom is reported to be considering a move that could make the business a major player in the UK construction supplies sector. The firm is regarded as a leading candidate to purchase a considerable part of UK aggregates being disposed of after a competition probe into Tarmac and Lafarge. Breedon may embark on an equity issue of up to €373.82million (£300million)that would in turn make it a €621.71million (£500million) business should it purchase the assets, accordi

May 14, 2012 Read time: 1 min

894 Breedon Aggregates' executive chairman Peter Tom is reported to be considering a move that could make the business a major player in the UK construction supplies sector.

The firm is regarded as a leading candidate to purchase a considerable part of UK aggregates being disposed of after a competition probe into 868 Tarmac and 725 Lafarge. Breedon may embark on an equity issue of up to €373.82million (£300million)that would in turn make it a €621.71million (£500million) business should it purchase the assets, according to 5531 Peel Hunt's Robin Hardy.

Breedon is believed to have a 2.5% UK heavy construction materials market share, compared with Tarmac (20%), 1707 Aggregate Industries (18%) and Lafarge (9%).

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Breedon posts £200mn-plus revenue rise in 2018

Breedon, a leading UK and Ireland construction materials group, saw its year-on-year revenue rise by more than £200 million in 2018.

Newly published audited figures for the year showed group revenue rose 32% to £862.7 million, compared to £652.4mn in 2017. Breedon’s profit before tax also rose by a healthy 12% to £79.9 million, up from £71.2mn in 2017. Group net debt stood at £310.7mn as of 31 December 2018, up from £109.8mn at 2017 end.

Breedon posted a sizeable increase in its aggreg