Business
Annual Results 2018
Annual Results 2018.
About this update from Breedon Group Plc
[{"type":"text","content":"\n \nRNS Number : 9508R Breedon Group PLC 06 March 2019 \n\n \n \nNews release\n \n6 March 2019\n \nBreedon Group plc\n('Breedon' or 'the Group')\n \nAnnual Results 2018\n \nBreedon, a leading construction materials group in Great Britain and Ireland, announces its audited annual results for the year ended 31 December 2018.\n \n\n\n\n\n \n\n\n2018\n\n\n2017\n\n\nChange\n\n\n\n\nRevenue\n\n\n£862.7 million\n\n\n£652.4 million\n\n\n+32%\n\n\n\n\nUnderlying EBIT†\n\n\n£103.5 million\n\n\n£80.4 million\n\n\n+29%\n\n\n\n\nProfit before taxation\n\n\n£79.9 million \n\n\n£71.2 million \n\n\n+12%\n\n\n\n\nUnderlying basic EPS†\n\n\n 4.70 pence\n\n\n 4.14 pence\n\n\n+14%\n\n\n\n\nNet debt\n\n\n£310.7 million\n\n\n£109.8 million\n\n\n \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 \n19.4 million tonnes of aggregates sold (2017: 16.0 million tonnes)\n \n2.8 million tonnes of asphalt sold (2017: 1.9 million tonnes)\n \n3.2 million cubic metres of ready-mixed concrete sold (2017: 3.3 million cubic metres)\n \n2.0 million tonnes of cement sold*\n \nHighlights\n· Strong performance delivered in the face of difficult trading conditions\n· Improved revenue and earnings, underpinned by contributions from recent acquisitions\n· Strong cash flow resulting in closing Leverage of 2.0\n· Transformative acquisition of Lagan, taking us into new markets with significant growth potential\n· Asset swap with Tarmac streamlined our concrete network, strengthened our asset base and improved the quality of our earnings\n· A further £50 million invested in operational improvements, increased capacity and extensions to reserves\n· New operating segments reflect change in the Group's structure following the acquisition of Lagan\n· C...