AGM Statement

RNS Number : 5634K

Breedon Aggregates Ld

17 April 2015

 

   News release

17 April 2015

Breedon Aggregates Limited

("Breedon Aggregates" or the "Company")

AGM Statement

At 2.00pm today Peter Tom CBE, Chairman of Breedon Aggregates, will deliver the following statement at the Company's Annual General Meeting:

"Trading in the first quarter has been strong.  Sales revenue increased by around 30% compared to the same period last year, with acquisitions contributing about half of this growth.  Both England and Scotland delivered improved performances and England experienced a particularly strong start to the year on the back of buoyant demand and good weather.

"The businesses acquired last year are performing in line with expectations and our existing operations also continue to deliver organic improvement.  We have commenced a major planned capital investment programme at the former Barr business, acquired in November last year, which is expected to improve productivity and profitability in the coming months.

"The outlook for UK construction, and consequently the demand for our products, continues to be positive.  The main political parties have emphasised their commitment to investment in housing and infrastructure, which should drive continuing growth after the election.  We remain confident of delivering a performance in line with our expectations in 2015.

"We will give a further update on the Group's progress in our interim results announcement on 23 July 2015."

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Note to editors

Breedon Aggregates is the largest independent aggregates business in the UK after the four global majors.  It operates 53 quarries, 27 asphalt plants, 60 ready-mixed concrete plants and three concrete block plants in England and Scotland and employs approximately 1,200 people.  The group has strong asset backing, with over 500 million tonnes of mineral reserves and resources in the UK.  Breedon Aggregates' strategy is to grow through consolidation of the UK heavyside building materials sector.

For further information:

Breedon Aggregates Limited

Simon Vivian, Group Chief Executive

Rob Wood, Group Finance Director

01332 694010

Stephen Jacobs, Head of Communications

07831 764592

Cenkos Securities (NOMAD and Joint Broker)

Max Hartley, 020 7397 8900

Peel Hunt (Joint Broker)

Justin Jones / Mike Bell, 020 7418 8900

 

END

 

 

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