Breedon encouraged by results
First publishedon www.AggBusiness.com
UK-based Breedon Aggregates has reported a marked improvement in parts of its business in the first quarter of 2011.
Speaking at the company’s AGM, chairman Peter Tom said, “Trading in the first three months of the year was encouraging, with a marked improvement in the performance of our English business, and sales continued to hold up reasonably well in April despite a number of public holidays. We have been particularly pleased that asphalt price increases have held, helping to offset sharply higher bitumen costs.
“It is still early in the year and our main trading period lies ahead of us, with the full impact of public sector spending cuts yet to manifest itself, especially in Scotland. However, our performance to date is in line with our expectations, our business improvement plans are yielding pleasing results and we look forward to the rest of the year with confidence.”
Tom added that the company is continuing to evaluate acquisition opportunities that will strengthen the business and add value for shareholders.