Breedon Group plc (BREE.L, BRDNF), a vertically-integrated construction materials group, Tuesday reported that its first-quarter revenue increased 9% from last year, benefiting from contributions from the BMC and Lionmark acquisitions.
On a like-for-like basis, revenue increased fractionally with a slight improvement in volumes and broadly stable pricing. The company noted that activity across the Group was impacted by poor weather conditions in the period, particularly in the USA.
In its trading update ahead of the Annual General Meeting, the compan y noted that in GB enquiry levels remained elevated and volumes across all key product groups were slightly ahead of last year.
Ireland had a busy tendering season although has seen delays in certain key infrastructure projects with volumes in the quarter modestly behind the prior year.
In the USA, volumes in the quarter were impacted by challenging weather conditions, most notably an extended period of below freezing temperatures.
Rob Wood, Chief Executive Officer, said, "In the first quarter we have grown our revenues and delivered on our strategic objectives against an increasingly uncertain economic backdrop. Although weather conditions were again challenging, underlying levels of demand remained supportive. … The very nature of our business, supplying local products to local businesses, provides some insulation in the current economic climate. While the Board's expectations for 2025 remain unchanged we have enhanced our focus on self-help, driving operational and commercial excellence, further unlocking efficiencies and optimising capacity. While visibility is reduced, we remain optimally positioned to benefit when construction market activity improves."
Breedon is scheduled to announce its interim results for the period ending June 30 on July 23.
On the London Stock Exchange, Breedon shares were trading at 443.00 pence, down 1.29 percent.
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