Shares in Breedon Aggregates (BREE) rose more than 5 per cent after the group indicated that profits for the full year are likely to be ahead of market expectations. Sales of aggregates in the first 10 months of the year grew by 26 per cent, while asphalt and sales of ready-mixed concrete were up by 12 per cent and 18 per cent, respectively.
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Group sales revenue in that period was up 20 per cent at £226m, while margins have also improved. Growth was more pronounced in England, while the Scottish operation was more subdued. A total of £40m has been invested in acquisitions, and cost synergies can be expected as these are integrated into the business.
