Construction materials group sees encouraging trading performance as demand rises
Construction materials group Breedon has seen an encouraging trading performance as demand began to return since Covid lockdown.
Breedon, which has operations across Shropshire and the West Midlands, said trading, which began to improve in early May, has continued into August.
The group delivered revenues for the first eight months of the year of £531 million – compared with £624 million in 2019, including a one-month contribution from recently-acquired CEMEX assets.
Breedon anticipates its earnings before income tax for the second half of the year to be more than the average of the market expectations.
It said: "Breedon has continued to deliver an encouraging trading performance since demand began to return in early May after the Covid-19 lockdown, with the improving trend that we reported for June and July at the time of our interim results continuing into August.
"We continue to be reassured by the Government's restated commitment to investment in the UK's infrastructure and by encouraging demand from the UK housing market, complemented by similar trends in the Republic of Ireland.
"As a provider of an essential service, we have proved our ability to deliver a resilient performance despite unprecedented disruption, which gives us considerable confidence in the long-term outlook for our business."
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