Breedon Aggregates generated 拢269.7m in revenues in the year to 31st December 2014, up a fifth from the 2013 total of 拢224.5m.
Pre-tax profit was up 94% to 拢21.4m (2013: 拢11.0m).
In 2014 Breedon sold:
- 7.7 million tonnes of aggregates (2013: 6.1 million tonnes)
- 1.5 million tonnes of asphalt (2013: 1.4 million tonnes)
- 800,000 cubic metres of ready-mixed concrete (2013: 600,000 million cubic metres).
Remarkably, the busiest day of the year for asphalt deliveries in England was 15th December.
Executive chairman Peter Tom said: 鈥淲e are pleased to report another year of significant progress, with results strongly ahead of 2013.聽 These were driven by steadily improving market conditions, healthy contributions from acquisitions, the benefits of continuing capital investment and solid organic growth in the underlying business.鈥�
He said: 鈥淎s we enter our fifth year since the creation of Breedon Aggregates, the group looks very different to the business we acquired in 2010.聽 Sales revenue has nearly doubled, EBITDA has risen almost threefold, the balance sheet is strong and we have a stable, experienced management team in place.
鈥淭he economic outlook is the most favourable for our industry since the end of the recession.聽 Construction output and demand for our products are expected to increase over the next three years and infrastructure in particular is expected to grow strongly in 2015-18 on the back of recently-announced public spending plans.聽 We continue to see many opportunities to grow and improve our business and we are confident that we will make further progress in 2015.鈥�
During 2014 Breedon spent 拢33.4m on acquisitions, including: Huntsmans Quarries, extending its presence in the Gloucestershire and Worcestershire; and Barr Quarries in southwest Scotland.
Other investments included:
- Opening of West Deeping quarry in south Lincolnshire
- Opening of Ardchronie quarry in the Highlands
- Purchase of Clearwell concrete plant in Gloucestershire
- Construction of a new concrete plant at Cannock in Staffordshire
- Purchase of two asphalt plants from Hope Construction Materials in Suffolk and Essex
- Investment in a joint venture, Breedon Bowen, at its quarry in mid-Wales.
Further acquisitions are expected in 2015 and there are plans to upgrade a number of asphalt and concrete plants.
Key contracts supplied during the year included:
- Dualling of the A453: 65,000 tonnes of aggregates and 13,000 cubic metres of concrete
- Nottingham Tram: 51,000 tonnes of asphalt
- Birmingham Airport: 13,000 tonnes of asphalt
- Invergordon Harbour: 133,000 tonnes of aggregates
- Stornoway Harbour: 30,000 tonnes of aggregates and 3,500 tonnes of asphalt
- Dundee Waterfront: 10,000 tonnes of asphalt.
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