Breedon profits soar after ‘most productive year’

Breedon, the Leicestershire-based construction materials group, has posted impressive full year results for 2017.

The firm has seen revenue climb by 43% to £652.4m, while profits have risen 52% to £71.2m after announcing it will buy four quarries and an asphalt plant for £16.5m from Tarmac.

Peter Tom CBE, executive chairman, said: “2017 was one of the most productive years in our history. We completed the integration of our largest-ever acquisition, concluded two bolt-on purchases and announced an important transaction with Tarmac that, subject to approval by the competition authorities, will see us streamline our ready-mixed concrete network in exchange for a substantial new reserve of minerals and a strategically valuable asphalt plant. This did not, however, distract us from our operational focus and we once again delivered a solid financial performance.

“Our business is in great shape and we are well positioned to benefit from the medium-term growth in residential and infrastructure development, to which the majority of our material is supplied.

“We look to 2018 and beyond with confidence and optimism.”