Trading during the first quarter of 2023 has been “positive” for Breedon, the construction materials group, according to a new trading update ahead of the business’s Annual General Meeting.
The Derbyshire-headquartered company highlighted encouraging levels of enquiries, while revenue during the first quarter was 10% ahead of the same period last year, or 7% on a like-for-like basis.
Breedon noted that it thus continues to trade in line with expectations.
Rob Wood, Chief Executive Officer, said: “Our performance in the first quarter demonstrates the resilience and flexibility of our team and business model. Our teams have stayed close to their customers and we continue to manage our cost base prudently, enabling us to grow revenue while fully recovering input cost increases. Longer term, our end market exposure remains underpinned by structural growth dynamics.
“Our vertically-integrated, local operating model enables us to respond nimbly to market conditions and, whilst the economic backdrop remains uncertain, we are encouraged by our trading performance to date. As such, we expect to deliver results in line with the Board’s current expectations.”
