Business
Interim Results
Interim Results.
About this update from Breedon Group Plc
[{"type":"text","content":"\n \nRNS Number : 5506J Breedon Aggregates Ld 18 July 2013 \n \n\n \n \n \nNews release\n \n18 July 2013\n \nBreedon Aggregates Limited\n(\"Breedon Aggregates\" or \"the Group\")\n \nInterim results (unaudited) for six months to 30 June 2013\n \nBreedon Aggregates, the UK's largest independent aggregates business, announces its unaudited interim results for the six months ended 30 June 2013.\n \n\n\n\n\n\n\n\n 30 June 2013\n\n\n30 June 2012\n\n\nChange\n\n\n\n\nRevenue \n\n\n£100.2 million\n\n\n£83.0 million\n\n\n+ 21%\n\n\n\n\nUnderlying EBITDA†\n\n\n£13.0 million\n\n\n£9.7 million\n\n\n+ 34%\n\n\n\n\nUnderlying operating profit†\n\n\n£6.6 million\n\n\n£3.9 million\n\n\n+ 69%\n\n\n\n\nUnderlying profit before tax†\n\n\n£5.3 million\n\n\n£2.2 million\n\n\n\n\n\n\n\nUnderlying basic EPS†\n\n\n0.55 pence\n\n\n0.28 pence\n\n\n\n\n\n\n\nTotal non-current assets\n\n\n£202.8 million\n\n\n£150.2 million\n\n\n\n\n\n\n\n \nHighlights\n· Underlying EBITDA margin improved to 12.9% (June 2012: 11.7%), reflecting continued downward pressure on costs, stable pricing and early benefit of acquisitions\n· Successful £61 million share placing to fund acquisitions: net debt reduced to £72.2 million (June 2012: £81.8 million)\n· Trading in line with expectations, despite continuing weak market conditions and poor weather in the first quarter\n· Acquisitions of former Aggregate Industries and Marshalls operations completed on 30 April 2013\n· Midlands holding up well and very good medium-term prospects in Scotland\n· Acquisitions opening up new markets in Manchester, north Wales, Cheshire, Gloucestershire and the Scottish Hebrides; new product range added with concrete blocks in Scotland\n· Group expects further progress in second half, with significant and improving contribution from acquisitions this year and next\n \n \n† Underlying results are stated before acquisition-related expenses, redundancy and reorganisation costs, property items, impairments, amortisation of acquisition intangibles, changes in the fair value of financial instruments and related tax items. References to an underlying profit measure throughou...