Breedon revenues grow in November

(Sharecast News) - Construction materials group Breedon said on Monday that its trading performance had continued to exceed expectations in the fourth quarter.
Breedon said positive trading had continued, with revenues in November coming in ahead of the prior year on a like-for-like basis.

This AIM-listed group added that the solid performance had also continued into December, in part benefiting from benign weather conditions.

As a result, Breedon now expects underlying earnings for the full year to be ahead of current market expectations at approximately £75.0m, while net debt was projected to be well below £400.0m at the year end.

While the medium-term outlook for Breedon's markets remained "positive", the group did caution that the ongoing Covid-19 pandemic and Brexit negotiations created "continued economic uncertainty", resulting in limited visibility on trading conditions going into next year.

As of 1045 GMT, Breedon shares were down 2.08% at 84.80p.