Breedon sees income collapse after disruption of Covid pandemic

The corporate, which operates in Shropshire and the West Midlands, reported pre-tax revenue of £ 48.1million for the 12 months ending December 31, 2020, up from £ 94.6million a 12 months over early.

Nevertheless, income stabilized at £ 928.7million from £ 929.6million as the corporate hailed a powerful restoration within the second half of the 12 months with comparable revenues in comparison with final 12 months. ‘final 12 months.

The corporate offered 21.7 million tons of aggregates final 12 months towards 20.2 million in 2019, 3.3 million tons of asphalt towards 3 million, 2.6 million cubic meters of ready-mixed concrete employment towards 3 million and a pair of million tonnes of cement, or 2019.

Pat Ward, Group CEO, stated: “The pandemic has put unprecedented stress on the group in 2020 which has demanded an distinctive response from everybody in our enterprise and I want to thank all of our stakeholders for his or her assist throughout a I’d notably prefer to thank our colleagues who labored tirelessly and who allowed us to get better strongly within the second semester to ship a really honorable end result for the 12 months.

“Whereas we stay conscious of the continued affect of Covid-19, with the worst of the pandemic now hopefully behind us and a few welcome readability on Brexit, I imagine the prospects for Breedon and our business are increasingly constructive.

“With sturdy commitments from the UK and Irish governments to funding in infrastructure and the continued long-term demand for housing, forecasters anticipate regular progress in demand for our merchandise this 12 months and subsequent sooner or later. two nations.

“In 2020, we have now confirmed our capability to ship resilient efficiency in an setting of unprecedented disruption. Our monitor file, coupled with bettering market circumstances, provides us appreciable confidence within the long-term prospects of our firm.

Breedon additionally confirmed that the group’s chief monetary officer, Rob Wooden, will succeed Pat Ward as CEO on April 1. James Brotherton will succeed Mr. Wooden as CFO and can be part of the board on the identical date.