Breedon boosts profit 29% after passing on cost increases

By Carl Brown2022-07-28T08:33:00

Materials producer expects earnings to be at the ‘top-end’ of market expectations

Breedon has reported a 29% increase in profit in the first half of the year, supported by price increases and hedging against cost inflation

The construction materials producer reported pre-tax profit of £59.5m for the six months to 30 June, up from £46.2m the previous year. It also increased its turnover by 12% to £671.1m over the same period.

The firm, which produces aggregate, cement, asphalt and concrete, is now expecting its full year earnings before interest and tax to be at the “top end” of it forecast range of market consensus range of £140m to £149m.

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