AGM Trading Update
Summary by AI BETAClose X
29 April 2026
BREEDON GROUP PLC
AGM Trading Update
Breedon Group plc (Breedon or the Group), a leading vertically-integrated construction materials group in Great Britain, Ireland and the United States, provides the following trading update ahead of the Group's Annual General Meeting being held later today.
Trading in the first quarter was in line with our expectations. Revenue in the quarter increased 5% compared with Q1 2025, benefitting from contributions from Lionmark in the United States and Booth in Ireland. On a like-for-like1 basis, Revenue increased by 2%, with an encouraging first quarter in both the United States and Ireland offsetting a softer start to the year in Great Britain.
HIGHLIGHTS
Great Britain
Trading in the first quarter reflected a continuation of the trends seen in the second half of last year. Ready-mixed concrete volumes were sequentially lower in what remains a subdued residential market; however volumes in other products have been more encouraging and there are some signs of stabilisation in non-residential end markets.
Ireland
Ireland has had an encouraging start to the year with volumes modestly ahead of Q1 2025 and tendering in line with expectations for the year. The acquisition of Booth completed towards the end of the quarter and integration is in progress.
United States
Activity levels were significantly ahead of Q1 2025 as more stable weather patterns in the Midwest allowed customers to complete preparatory works, which meant our aggregates and ready-mixed concrete volumes returned towards normal levels. Supply to key infrastructure projects has started, and we enter the construction season with healthy backlogs.
OUTLOOK
Our layered commodity hedging programme provides some cost certainty to the business at a time of elevated input cost volatility following the conflict in the Middle East. We are adjusting our product pricing through a mix of contractual escalators, surcharges and targeted price increases, as appropriate.
We expect that residential demand will remain challenging for the remainder of 2026; however non-residential, which comprises the majority of our end-market exposure, is expected to be more resilient.
Rob Wood, Chief Executive Officer, commented:
"While our first quarter is a relatively small contributor to the year overall, Breedon has seen an encouraging performance in the year to date. We have increased our revenue, with volume growth in a number of key product categories, and have made good progress on our strategic objectives, including our operational excellence initiatives.
"Despite elevated uncertainty and a less clear economic outlook, we remain confident in our financial strength and ability to adapt as required to changes in market conditions.
"In addition, we are pleased with the early engagement by the UK Government to our 'Back British Cement' campaign to create a fair and competitive operating environment for the domestic cement industry."
Notice of results:
Breedon will announce its interim results for the six months ending 30 June 2026 on Wednesday 29 July 2026.
|
ENQUIRIES |
|
|
Breedon Group plc |
+44 (0) 1332 694010 |
|
Rob Wood, Chief Executive Officer James Brotherton, Chief Financial Officer |
|
|
|
|
|
MHP (Public relations adviser) |
+44 (0) 7595 461231 |
|
Reg Hoare, Rachel Farrington, Charles Hirst
|
breedon@mhpgroup.com |
Notes:
1. Like-for-like reflects reported values stated on a constant currency basis, adjusted for the impact of acquisitions and disposals.
About Breedon Group plc
Breedon Group plc, a leading vertically-integrated construction materials group in Great Britain, Ireland and the United States, delivers essential products to the construction sector. Breedon holds 1.5bn tonnes of mineral reserves and resources with long reserve life, supplying value-added products and services, including specialty materials, surfacing and highway maintenance operations, to a broad range of customers through its extensive local network of quarries, ready-mixed concrete and asphalt plants.
The Group's two well-invested cement plants are actively engaged in a number of carbon reduction practices, which include utilising alternative raw materials and lower carbon fuels. Breedon's 4,800 colleagues embody our commitment to 'Make a Material Difference' as the Group continues to execute its strategy to create sustainable value for all stakeholders, delivering growth through organic improvement and acquisition in the heavyside construction materials market. Breedon shares (BREE) are traded on the Main Market of the London Stock Exchange and are a constituent of the FTSE 250 index.
LEI: 213800DQGNQE3X76WS92
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 9 hours ago Savannah Energy
- 10 hours ago Buccaneer Energy PLC
- 10 hours ago Savannah Energy
- 11 hours ago Carclo
- 11 hours ago Schroder Japan Growth Fund