Breedon Aggregates profits soar to record £31m

Aaron Morby 1 year 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

ISG set for 2.2m sq ft Amazon mega-shed

Contractor in line for Amazon's first self-developed fulfilment centre
58 mins ago

Phenolic foam board cladding system fails fire test

At least 228 buildings must be reclad after latest fire test result
2 mins ago

Balfour replaces Costain on Hinkley Point tunnels job

Costain exits £200m-plus Hinkley Point marine package
21 hours ago

Chinese firm buys cladding giant Permasteelisa for £426m

Deal crates leading global curtain walling company
20 hours ago

Profit growth outstrips building rise at Persimmon

Housebuilder vows strong cost control "to deliver the best outcomes for our shareholders."
17 mins ago

Multiplex inks £240m deal for Jenga tower

Contractor wins ultra-luxury scheme at Nine Elms
21 hours ago

Engineers probe multi-storey car park collapse

Nottingham NCP deck failure leaves cars dangling in mid-air
24 hours ago

Balfour Beatty set to pull support for CITB

Group chief executive Leo Quinn fires broadside at training body
2 days ago

Carillion crisis chief Richard Howson returns to helm

Former chief executive back in a senior role just weeks after stepping down
4 days ago

Contest starts for 480 Manchester student rooms

Manchester Metropolitan University seeks contractor for £27m Birley campus project
23 hours ago

Public sector clients breaking prompt payment promises

Two-thirds of engineering services specialists being made to wait more than 30 days for their money
1 day ago

Autumn start for £30m Yorkshire village flood scheme

VolkerStevin jv to start Mytholmroyd village flood scheme
1 day ago

McAlpine set for £29m Big Ben overhaul

Contract to be confirmed when MPs return to Parliament in early September
24 hours ago

Argent unveils Birmingham Paradise phase 2

290,000 sq ft One Centenary Way will be third office project at Paradise scheme
4 days ago

Subbies start winding-up petition against Titan Construction

Financial crisis at firm where ISG founder David King is chairman
4 days ago

J S Wright lands £10.5m Fish Island M&E package

26-month deal for major new resi scheme in Hackney Wick
4 days ago

Race starts for one of biggest demolition jobs of 2017

Six Grimsby tower blocks to be demolished
4 days ago

Major York city mixed-use scheme approved

Four block redevelopment of Hudson House near railway station approved
4 days ago

Midas construction margin edges up to 0.5%

South western builder sees recovery in profit to £1.6m
4 days ago

Colas to trial driverless cone laying vehicles on roads

Autonomous Impact Protection Vehicles can make highways sites safer: Video
4 days ago

Multiplex quits £750m Stage of East London project

Client hunts for new contractor to deliver vast scheme on Shakespeare’s Curtain Theatre site
5 days ago

Graham bags £19m East Anglian highways upgrade

Growing civils arm bags biggest highways package in over two years
5 days ago

Betting Spy: Defence is a dying art in the Premier League

Goals guaranteed this season while a home win treble can pay a 7/1 return
4 days ago

A2Dominion ramps up homes target to 6,000

Leadership shake-up to raise private rental and homes for sale
6 days ago

VolkerHighways names new ops director

Former Kier highways general manager Jerry Pert joins Volker
5 days ago

Contractors named and shamed over minimum wage

Builders among latest list of offenders published in government crackdown
5 days ago

Virtual reality set to spread across construction sites

Research programme to push use of high-tech headsets
5 days ago

Time nearly up for skills cards for fringe trades

85,000 recently issued Construction Related Occupation cards become obsolete within weeks
5 days ago

CITB buys plant simulators to fill operator skills gap

Sixteen plant simulators will help to train next generation of operators
6 days ago

Argent appoints five new firms on construction framework

Developer to shake-up one of the industry's longest running partnership deals
6 days ago

Contractor services