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Strong growth for club partners Breedon

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Leicester Tigers club partners Breedon Group increased revenues by nearly a third in the financial year according to their annual results.

The construction materials group saw revenues reach £862 million (up 32 per cent from £652 million) to the end of 2018 and recorded pre-tax profits of £79.9 million.

Employing 3,000 workers in cement plants and quarrying as well as asphalt, concrete, clay, slate production, contract surfacing and import/export terminals, Breedon was 10 years old in 2018.

The annual report states: “From our first acquisition in 2010 to our recent £455 million purchase of Lagan, we have demonstrated our ability to deliver strong earnings growth, through a combination of organic development and value-enhancing acquisitions.”

Breedon Group plc executive chairman Peter Tom CBE, also chairman of Leicester Tigers, said: “We out-performed the GB market in sales volumes of all of our key products, grew our revenues and profits, and once again generated strong cashflow, enabling us to pay down a material proportion of our post-Lagan debt.

“Our company is in excellent shape and well placed to benefit from medium-term growth predicted for our markets. We are confident of making further progress in the current year.”