Breedon Group, the construction materials group, has reported a “strong” first half in its unaudited interim results for the six months ended 30 June 2023.
Revenue at the company grew to £742.7m from £671.1m in the first half of 2022, however pre-tax profits dipped to £56.5m from £59.5m.
Breedon noted it expects to be eligible for inclusion in the FTSE 250 and FTSE-All share indices at the next index review in September 2023.
Rob Wood, Chief Executive Officer, said: “In the first half our vertically-integrated and local operating model has again come to the fore, leveraging our long-term customer relationships and deep market knowledge. Our first class team has operated with great agility to deliver a strong start to 2023 for which I thank them sincerely and we are well-positioned for the second half of the year.
“The long-term structural dynamics driving infrastructure spending and housebuilding in GB and Ireland have not changed. To ensure we can efficiently and sustainably meet long-term demand for our essential construction materials, we have re-doubled our focus on those factors under our control; keeping our people safe and well while minimising the cost of production and maximising the value of the extensive portfolio of assets we own and acquire.
“By emphasising the operational factors we can influence, we will ensure we remain competitive and continue to deliver outstanding results. By challenging our procedures and practices, we can be sure we will be in the strongest possible position when our end-markets return to growth.”
