Breedon Aggregates, the UK’s leading independent aggregates business, today announced its audit’s annual results for the year ended 31 December 2015.
The results revealed pre-tax profits for the firm rose by 46 per cent to £31 million based on strong sales growth.
Group aggregates volumes for the year were up 13.5 per cent at 8.7m tonnes, asphalt volumes were up 18.3 per cent at 1.8m tonnes and ready-mixed concrete volumes were up 13.3 per cent at 0.9m cubic metres.
This assisted in steering revenue up 18 per cent to £318 million.
A number of investments were made by the firm during the year, coming to more than £20 million. These included, the replacement of two asphalt plants here in Scotland, its Naunton quarry welcomed a new crushing plant and block production plant and only last month a new concrete plant was opened at Tewkesbury.
As Breedon reacted to the ‘encouraging’ results, the firm were also able to confirm its £55m joint venture deal on the Aberdeen Western Peripheral Route – the company’s largest-ever contract.
North Wales and Northampton are also set to benefit with the reopening of a former quarry set to take place across the English-Welsh border, while the Hampshire County will welcome a sand and gravel site.
Peter Tom, executive chairman, said: “2015 was another significant year for Breedon. Our trading performance continued to improve and we again reported record results. We finalised our largest ever contract win and announced the planned acquisition of Hope Construction Materials. We are tremendously excited by the future potential for this business.
“Early in 2016 we were joined by our new Group chief executive, Pat Ward, whom I would like to once again warmly welcome to Breedon Aggregates. He succeeded Simon Vivian, who oversaw the successful development of the Group during its first five years and will continue to serve as a non-executive director.
“The outlook for our business continues to be encouraging. The government remains committed to infrastructure investment and all the relevant forecasting bodies predict modest but sustained growth in construction output over the next few years. This means a steady growth in demand for our products. Against this background, volumes are expected to recover gradually to pre-recession levels by 2020.
“We begin an exciting new era in 2016 with the planned acquisition of Hope and we look forward to the future with confidence.”