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A leading UK-based producer of aggregates, asphalt and ready-mixed concrete for builders, Breedon said its pre-tax profits in the year to December 31 rose 46.4% to £31.3 million (€40.4 million) with an 18.1% increase in revenue to £318.5 million (€411.3 million).
During the year, the group finalised its biggest contract, the £55 million (€71 million) Aberdeen Western Peripheral Route roadbuilding joint venture, and agreed subject to CMA approval, to buy
Earlier this year, new chief executive Pat Ward replaced Simon Vivian, who will stay on the board as a non-executive director.
In their jointly presented Review of 2015 accompanying Breedon’s record trading figures, Breedon executive chairman Peter Tom and Simon Vivian note the Government’s commitment to infrastructure investment and all the relevant forecasting bodies predictions of modest but sustained growth in construction over the next few years.
“This means a steady growth in demand for our products, with the MPA (
Tom and Vivian also note how the acquisition of Hope, due to be completed by mid-2016, represents a “major step forward for Breedon Aggregates, almost doubling the size of our business”.
But they acknowledge "increasing concern" that the Chinese economy and the general slowdown in the emerging markets could hit global growth.
"Domestically, the EU referendum could also have an adverse effect on growth,” Tom and Vivian add in their annual review.
"Notwithstanding this, Breedon Aggregates begins an exciting new era in 2016 with the planned acquisition of Hope and we look forward to the future with confidence."
