Breedon Aggregates profits soar to record £31m

Aaron Morby 5 months ago
Share

Breedon Aggregates is looking forward to further strong growth this year after posting record pre-tax profits up 46% to £31m based on strong sales growth.

Peter Tom
Chairman Peter Tom says Hope Construction deal will transform Breedon

Peter Tom, Executive Chairman, said he hoped Breedon’s £336m takeover of Hope Construction Materials would be approved by the Competition and Markets Authority in the summer paving the way for a business transformation.

He 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.

“Hope itself will significantly increase our geographic coverage and bring us a number of investment prospects, but we also see many other potential opportunities to further expand our business.

“We begin an exciting new era in 2016 with the planned acquisition of Hope and we look forward to the future with confidence.” 

Group aggregates volumes for the year were up 13.5% at 8.7m tonnes, asphalt volumes were up 18.3% at 1.8m tonnes and ready-mixed concrete volumes were up 13.3% at 0.9m cubic metres. This helped to drive revenue up 18% to £318m.

Breedon largest ever contract for the Aberdeen Western Peripheral Route, which is worth £55m, will help to drive demand in Scotland over the next few years.

During the year Breedon invested more than £20m in the business, including the replacement of two asphalt plants in Scotland, a new crushing plant and block production plant at its Naunton quarry in the Midlands and a new concrete plant at Tewkesbury, which opened last month.

The firm also plans to re-open a former quarry in north Wales and will shortly commence production of sand and gravel at a new site near Northampton.

Latest news

Gatwick names 17 contractors on £1.2bn frameworks

Full list of winners from 127 companies who entered the tender race
2 days ago

Contractors hit by concrete block shortages

Supplies drying up as manufacturers prioritise regular construction customers
2 days ago

Building boss jailed for conning pensioner out of £150k

Contractor sentenced to three years for massively overcharging 87-year-old
1 day ago

Skanska shrugs off Brexit fears

Contractor taking a "measured and calm" approach amid post referendum uncertainty
2 days ago

D-Day for Hinkley construction next week

Contractors hoping for good news as a final decision set to be made on £24.5bn nuclear scheme
2 days ago

Vantage Design and Build collapse dents Inland Homes profit

House builder to "self deliver" homes rather than rely on contractors
2 days ago

Mears boss Bob Holt to help turnaround Lakehouse

Contractor offers rival chairman millions to lead recovery
2 days ago

H&V workers land 4.5% pay rise over next two years

"Robust" negotiations see pay deal "appropriate in the current economic climate"
2 days ago

Contractor fined £120,000 after worker sprains ankles

Builder falls 4.5 metres down service riser shaft on refurb site
2 days ago

Dunne bosses blame collapse on bankers

Insider reveals final hours of failed concrete specialist
3 days ago

Chinese construction giant to invest £1bn in Sheffield

First tranche of £220m to fund construction schemes over the next three years
3 days ago

Balfour urges Tories to borrow more to fund infrastructure

Contractor wants Government to make up any investment shortfall in wake of Brexit
3 days ago

Breedon plans post Brexit buying spree

Aggregates firm looking at more acquisitions as Hope deal completes
3 days ago

BAM Nuttall baffled by union claims over break cuts

Contractor mystified by UCATT complaints at £45m Leeds flood defence site
3 days ago

McAlpine chief steps down after eight months at helm

Tony Aikenhead leaving early after steering contractor back into profit
4 days ago

Dunne Group ceases trading with the loss of 524 jobs

Concrete frame specialist hits cash flow crisis after rapid expansion: London tower sites hit
4 days ago

Willmott Dixon wins fierce battle for £34m Plymouth job

Contractor wins "highly competitive" tender race for History Centre scheme
4 days ago

Heathrow awards design deal for £16bn expansion plan

Heathrow reminds Government it is a "ready-to-go, privately financed infrastructure project"
4 days ago

Demolition delays push back Hull hotel construction

Developer looking to start main build on mixed use scheme by the end of this year
4 days ago

Contractors work round clock to fill rail sinkhole

Trains back to normal after 50 tonnes of ballast used to fill void
4 days ago

Scape national construction mega framework rises to £7bn

OJEU notice published for country's largest framework as more firms invited on board
5 days ago

Derwent filling London offices despite Brexit vote

Vote of confidence in City fringe site as ISG completes refurbishment of White Chapel building
5 days ago

Sinkhole under tracks sparks London rail chaos

Network Rail and Thames Water engineers battling to repair six metre deep hole in south London
5 days ago

M+W wins £105m Hull deal for health giant RB

Design and build deal for maker of Strepsils, Gaviscon and Nurofen
5 days ago

Electricians agree 10.25% pay rise over four years

Long term wages deal brings stability to electrical contracting sector
5 days ago

Bid race set to start for Barking Build to Rent tower

Construction to begin next year on 28-storey scheme
5 days ago

Balfour bags contract at £1bn One Nine Elms

Replacement contractor chosen for twin resi towers as funding secured for scheme
6 days ago

HS2 will go ahead says new Transport Secretary

Industry reassured as Chris Grayling has no plans to scrap the £27bn scheme
6 days ago

British Land predicts post Brexit caution among investors

Property giant issues update on London market
6 days ago

£933,000 in fines after water site blunder kills fish

Court hands out huge penalties to United Utilities and its contractor KMI+
6 days ago