Business
Annual Results 2019
Annual Results 2019.
About this update from Breedon Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 6856F\n Breedon Group PLC\n 11 March 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n News release\n \n \n \n \n \n 11 March 2020\n \n \n Breedon Group plc\n \n \n ('Breedon' or 'the Group')\n \n \n \n \n \n Annual Results 2019\n \n \n \n \n \n Breedon, a leading vertically-integrated construction materials group in Great Britain and Ireland, announces its audited annual results for the year ended 31 December 2019.\n \n \n \n \n \n \n \n \n \n \n \n \n 2019\n \n \n \n \n 2018\n \n \n \n \n Change\n \n \n \n \n \n \n Revenue\n \n \n \n \n £929.6 million\n \n \n \n \n £862.7 million\n \n \n \n \n +8%\n \n \n \n \n \n \n Underlying EBIT†\n \n \n \n \n £116.6 million\n \n \n \n \n £103.5 million\n \n \n \n \n +13%\n \n \n \n \n \n \n Profit before tax\n \n \n \n \n £94.6 million \n \n \n \n \n £79.9 million \n \n \n \n \n +18%\n \n \n \n \n \n \n Underlying basic EPS†\n \n \n \n \n 5.08 pence\n \n \n \n \n 4.70 pence\n \n \n \n \n +8%\n \n \n \n \n \n \n Net debt\n \n \n \n \n £290.3 million\n \n \n \n \n £310.7 million\n \n \n \n \n \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 \n \n \n \n \n 20.2 million tonnes of aggregates sold (2018: 19.4 million tonnes)\n \n \n \n \n \n 3.0 million tonnes of asphalt sold (2018: 2.8 million tonnes)\n \n \n \n \n \n 3.0 million cubic metres of ready-mixed concrete sold (2018: 3.2 million cubic metres)\n \n \n \n \n \n 2.0 million tonnes of cement sold (2018: 2.0 million tonnes)\n \n \n \n \n \n Highlights\n \n \n · \n Excellent performance in challenging conditions\n \n \n · \n Improved results from all three Divisions\n \n \n · \n Strong cash flow reduced post IFRS 16 closing Leverage to 1.6x\n \n \n · \n Integration of Lagan largely completed \n \n \n · \n Acquisition of Roadway strengthened our position in North Wales\n \n \n · \n Capital Concrete joint venture secured critical mass in the London readymix market\n \n \n · \n Agreed acquisition of portfolio of assets from CEMEX in the UK\n \n \n · \n C...