Strong performance in the US and UK aggregates arm enables Hanson to ride out downturn in UK housing sector.
Hanson has brushed off affects off demand in the UK housing market to increase its interim profit before tax by 28% to £172.3m. Group turnover for the six months ended June 2005 increased by 9.3% to £1,746.8m.
Hanson said that demand in the UK, particularly housing-related construction was weak, and volume reductions in bricks and aggregates would continue into the second half of the year.
Despite the slow UK market, £35.7m of acquisitions helped increase turnover in the Hanson Building Products division by 25.2% to £196.2m.
In the aggregates division Hanson said that demand for asphalt was buoyant with sales increasing by 14.7%. Turnover increased by 10.9% to £403.7m in the division in part due to increases in selling prices and a focus on premium products.
Chief executive Alan Murray said: “Hanson has delivered a strong performance for the first half of 2050, continuing progress made in the second half of last year.”
Hanson said that the US construction industry remained robust with turnover increasing by 2.7% to £421m.
