They show that revenue was £100.2 million compared to £83.0 million for the same period last year, a 21% increase, while underlying EBITDA at £13 million (£9.7 million for same period in 2012) is up 34%.
Underlying operating profit at £6.6 million (£3.9 million) is 69% up and the underlying profit before tax at £5.3 million compares to £2.2 million in the same six months in 2012.
Total non-current assets of £202.8 million compare to £150.2 million.
The group says its highlights show underlying EBITDA margin improved to 12.9% (June 2012: 11.7%), reflecting continued downward pressure on costs, stable pricing and early benefit of acquisitions, along with the successful £61 million share placing to fund acquisitions. Net debt reduced to £72.2 million (June 2012: £81.8 million), and trading was in line with expectations, despite continuing weak market conditions and poor weather in the first quarter.
Acquisitions included the former
Acquisitions are said to be opening up new markets in Manchester, north Wales, County Cheshire; County Gloucestershire and the Scottish Hebrides (islands) while a new product range was added with concrete blocks in Scotland
The group expects further progress in second half, with significant and improving contribution from acquisitions this year and next.
Looking ahead Peter Tom, executive chairman, said: “The general outlook for construction in the UK looks more positive than it did at this time last year. The decline in construction output appears to be levelling out and there is no doubt that a sustained recovery in the housing market is already underway.
“Fears about the economy sliding back into recession have receded and some confidence appears to be returning to the sector.
“We expect product volumes in the second half of the year, on a like-for-like basis, to be slightly ahead of the comparable period last year, with the exception of asphalt which will continue to suffer from reduced local authority spending until recently allocated funding starts to come through.
“The group has performed well in the first six months of 2013 and we expect to make further progress in the second half.”
