Profits soar at Breedon Aggregates
Derbyshire-based Breedon Aggregates has posted a big rise in revenues and profits for its year-ending 31st December 2015.
The UK’s largest independent aggregates business saw profits rise to £31.3m, up 46.4 per cent on 2014, on the back of revenues of £318.5m – a rise of 18.1 per cent.
The firm, which has concentrated much of its efforts on the Scottish market over the last 12 months, completed its largest ever contract on the Abderdeen Western Peripheral Route last year, valued at £55m.
Breedon also announced the planned £336m acquisition of Hope Construction Materials in November – its largest ever deal.
Peter Tom, executive chairman, said: “2015 was another significant year for Breedon. Our trading performance continued to improve and we again reported record results. We finalised our largest ever contract win and announced the planned acquisition of Hope Construction Materials. We are tremendously excited by the future potential for this business.
“Early in 2016 we were joined by our new group chief executive, Pat Ward, whom I would like to once again warmly welcome to Breedon Aggregates. He succeeded Simon Vivian, who oversaw the successful development of the Group during its first five years and will continue to serve as a non-executive director.
“The outlook for our business continues to be encouraging. The Government remains committed to infrastructure investment and all the relevant forecasting bodies predict modest but sustained growth in construction output over the next few years. This means a steady growth in demand for our products. Against this background, volumes are expected to recover gradually to pre-recession levels by 2020.
“We begin an exciting new era in 2016 with the planned acquisition of Hope and we look forward to the future with confidence.”
