Business
Annual Results 2017
Annual Results 2017.
About this update from Breedon Group Plc
[{"type":"text","content":"\n \nRNS Number : 9057G Breedon Group PLC 07 March 2018 \n\n \n \nNews release\n \n \n \n7 March 2018\n \nBreedon Group plc\n('Breedon Group' or 'the Group')\n \nAnnual Results 2017\n \nBreedon Group, the UK's leading independent construction materials group, announces its audited annual results for the year ended 31 December 2017.\n \n\n\n\n\n\n\n\n2017\n\n\n2016\n\n\nChange\n\n\n\n\nRevenue\n\n\n£652.4 million\n\n\n£454.7 million\n\n\n+43%\n\n\n\n\nUnderlying EBIT†\n\n\n£80.4 million\n\n\n£59.6 million\n\n\n+35%\n\n\n\n\nProfit before taxation\n\n\n£71.2 million \n\n\n£46.8 million \n\n\n+52%\n\n\n\n\nUnderlying basic EPS†\n\n\n4.14 pence\n\n\n3.49 pence\n\n\n+19%\n\n\n\n\nNet debt\n\n\n£109.8 million\n\n\n£159.3 million\n\n\n-31%\n\n\n\n\n† Underlying results are stated before acquisition-related expenses, redundancy and reorganisation costs, property items, amortisation of acquisition intangibles and related tax items. References to an underlying profit measure throughout this announcement are defined on this basis.\n \n16.0 million tonnes of aggregates sold (2016: 11.4 million tonnes)\n \n1.9 million tonnes of asphalt sold (2016: 1.9 million tonnes)\n \n3.3 million cubic metres of ready-mixed concrete sold (2016: 1.9 million cubic metres)\n \n \nHighlights\n· A year of solid progress, with improved performances from all three divisions\n· Strong organic earnings growth, supplemented by contributions from acquisitions\n· Significant investment in mineral assets, capacity and operational improvements\n· Two bolt-on acquisitions completed\n· Planned acquisition of Tarmac quarry and asphalt assets announced\n· Following full integration of 2016 Hope acquisition, growth platform strengthened, with significant scale, national reach and vertical integration\n· Further 25 per cent reduction in Employee Lost Time Injury Frequency Rate (LTIFR) to 1.41\n \n \n \n \nPeter Tom CBE, Executive Chairman, commented:\n \n\"2017 was one of the most productive years in our history. We completed the integration of o...