AGM Trading Update

RNS Number : 9317V

Breedon Group PLC

20 April 2021

 

20 April 2021 

Breedon Group plc

("Breedon" or the "Group")

AGM trading UPDAtE

Breedon, a leading construction materials group in Great Britain and Ireland, issues a trading update in advance of its Annual General Meeting to be held at 2.00 pm today.

Trading

Trading in the first three months of the year was encouraging and we started to see the typical seasonal pick-up in activity towards the end of the quarter.

There was good demand in the GB market, where our business benefited from contributions from the CEMEX acquisition, combined with a robust cement performance, which more than offset the impact of COVID-19 restrictions limiting construction activity in the Republic of Ireland.

Overall, Group revenues in the first three months of the year were approximately £264 million, an increase of 27 per cent compared with the first quarter of 2020; a period that largely predated COVID-19 restrictions. On a like-for-like basis*, revenues increased by 7 per cent.

Outlook

The outlook for our markets remains positive with construction output forecast to grow significantly in both the UK and the Republic of Ireland this year, led by infrastructure and housing development.

Based on the Group's performance in the year to date, the Board's expectations for the full year are unchanged.

Rob Wood, Chief Executive Officer, said: "Whilst we are still seeing some disruption from COVID-19, we are pleased to have delivered a good start to the year and believe the prospects for Breedon and for our industry are increasingly positive."

Breedon will announce its results for the half year ending 30 June on 22 July 2021.

*Like-for-like Group revenues exclude the impact of acquisitions and disposals as compared with the first quarter of 2020.

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Information on Breedon Group

Breedon Group plc is a leading construction materials group in Great Britain and Ireland. It operates two cement plants and an extensive network of quarries, asphalt plants and ready-mixed concrete plants, together with slate production, concrete and clay products manufacturing, contract surfacing and highway maintenance operations.  The Group employs approximately 3,500 people and has over 1 billion tonnes of mineral reserves and resources. The Group's strategy is to continue growing through organic improvement and the acquisition of businesses in the heavyside construction materials market.

Enquiries:

Breedon Group plc Rob Wood, Chief Executive Officer James Brotherton, Chief Financial Officer Robert Coates, Head of I nvestor Relations Numis Securities (NOMAD and Joint Broker) Ben Stoop Oliver Hardy (NOMAD) HSBC (Joint Broker) Sam McLennan Joe Weaving Teneo (Public Relations Adviser) Matt Denham Claire Scicluna

01332 694010 07880 486329 020 7260 1000 020 7991 8888 020 7420 3180

 

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