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Partners Breedon announce profits rise

Peter Tom CBE says Leicester Tigers partners Breedon Group are in a strong position after the UK’s largest independent construction materials group announced its results for the last six months.

Breedon, who have their branding on the collarbone of the Tigers playing kit, doubled their revenues in the six months to the end of June to £326.3 million, up from £163 million on last year. Profit before tax rose from £22.8 million to £35.8 million.

Mr Tom, who is chairman of both Tigers and Breedon, said: “I am pleased to report that in the first half of 2017 the former Breedon Aggregates business posted a strong profit improvement and the former Hope Construction Materials business made a robust contribution, even after taking into account the shutdowns of both our cement kilns for planned annual maintenance and upgrade during the first half, which were completed on time and to budget.

“We have consistently demonstrated our ability to generate value for our shareholders irrespective of economic conditions, through flexible and imaginative customer service, rigorous cost control, focused investment and a culture of continuous operational improvement.

“These disciplines, coupled with a strong balance sheet and healthy cashflow, put us in a strong position to take advantage of future growth opportunities, both organically and through further bolt-on acquisitions.

“More immediately, our performance in the first six months and our prospects for the second half give us confidence that we will meet 2017 market expectations.”