A flat construction market, ongoing project delays and increased competition hindered Breedon’s (BREE) second-half sales, dampening healthier demand during the prior three months.
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Like-for-like revenue was up 2 per cent during the first half as aggregate and asphalt volumes declined, but were offset by rises in cement and ready-mix concrete. Underlying operating profits in the UK – which accounted for almost two-thirds of the group total – were up just 1 per cent as subdued market conditions in Scotland and the end of several large projects hindered growth.
