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Thank you londoner 7 on your take on the interims , a interesting read and a very constructive and knowledgeable reply . I went and looked at the results presentation again and its surprising how you can miss things 1st time around . After feeling a little disappointed im now a bit more optimistic about prospects for the 2nd half and going forward . james and rob are winning me over and i liked there positivity especially the prospect of better ebit margins .My biggest concern is how they can manage the dedt with dividends and Aquisitions increasing .
Thanks londoner 7 , Informal has ever . Yes i did spot in the news feed on there wwbsite about the Aquisition but even that seemed an afterthought being dated the 1st which was monday , I know its not a biggy in size but a very important step into the marine aggregate market . It will be interesting to find out the cost of this deal , I wouldn't like to say hiw much a dredger costs or dredging licences? Will also be interested to have your take on the interim results Londoner 7 , The hike in dedt was a little conserning to me .
Has ever a very informative post by londoner 7 , just to had to joining the dots conversation its been brought to my attention that on the 1st of july breedon added R T My**** from buxton to there portfolio . Has far as im aware they have 2 concrete plants in buxton and Macclesfield and have both drum mixers and volumetric trucks aswell has concrete pumps totalling 20 + vehicles . Going forward i can see breedon doing more of these small infill deals , I dont know why this has not been made public yet so hoping for some more info on this plus the Thomas bow deal at the interim results .
I am really disappointed with this stock of late , nothing seems to be happening and the capital markets day didnt impress me . The management in my view gave a cautious approach in there future plans and direction with little to give me the impression that this stock is worth keeping especially when you look at how its performed ( share price ) compared to other stocks in the sector over the last 4 years .The jury is out
Was hoping that the share price would rally today given crh trading statement news , interesting to see crh had passed on inflation costs through higher pricing , im hoping breedon have done the same which should result in a positive trading statement tomorrow.
i work in the construction industry and there are various supply issues at present due to demand and covid related problems ,covid caused many suppliers to shut or mothball sites especially relating to concrete and there were many redundancies in the industry and i personally think companies have been caught out with the upturn so quickly. i think this is a regional issue at the moment especially cement shortages, there are also issues relating to transport with 12 month waiting lists for new vehicles , material shortages in some areas , planning consents are getting harder to pass through, i know of several quarries that could sell more material but are running at maximum output levels due to there legal requirements . some asphalt plants are only allowed to operate so many weekends and nights a year , looking at breedon specifically i think buying the cemex sites when they did was a very good move especially relating to high psv hardsone quarries and greater asphalt capacity , im expecting m&a activity to also pick up in the second half of the year also with bolt ons in certain areas . its looking positive but there are issues to overcome
Yes londoner7 skene group or tillicoultry would be a good fit in that area ? I mention hard stone being good because all roads are tarmaced with firstly base materials and then wearing course and you can use limestone (soft stone) for base but not wearing course which makes hard stone more usefull and more valuable which is obviously good for future development in the area where breedon are just getting a foothold . still waiting for this stock to take off and im hoping for encouragement in the half year results .
Good infill buy , only got a concrete plant 10 mile away in that area so can see a synergy there straight away. The fact its a hard rock quarry is a major plus and maybe im getting ahead of myself but can see asphalt expansion in the borders and Northumberland area in the future.
Interesting post londoner7 , just a quick point i thought i would pass on is the rise in value added products (vaps) that breedon have increased in the readymix division since the middle of last year that has increased profitability , these products are double the value of more basic mixes and they were one of the reasons why the company had a better second half so im hoping that the company might be heading in the right direction as far as ebit margins are concerned.
Thank you londoner7. Got some good friends who work for breedon who tell me the od bit of gossip . i think you are accurate about how the highway england jv will work but i do think breedons own contracting will do the odd bit too when necessary without it interfering with there own jobs. One of pat wards main aims is to increase the companys asphalt capabilities and with dowlow and minnfordd being added soon in england and wales i can see extra plants being built or bought in the future, contracting is a great route to market for asphalt so with the extra asphalt plants i can see an increase in contracting too .
Looks like the cma will shortly approve the asset swap with breedon retaining 3 plants that were of concern & the news of the breedon/ thomas bow jv for some of the highways england 4 yr package is very positive indeed . i can see breedon developing there contracting division and asphalt capabilities in the future to pursue bigger contracts too .
Tim hall , simon vivian have gone and now it looks like peter tom will soon be retiring , not good in my view ,anybody else concerned? Share price seems to be on the slide too after the positive reaction to the lagan deal
personally i think this could be a bad move ,surely there are others businesses they could buy to improve the business in the uk to strengthen certain areas ? I can see that lagans high psv stone nr belfast would be useful to import and another cement plant would take the pressure off the hope plant but on the whole im sceptical at the moment.
Hi londoner7 , all the aggregate companys shut down for at least a week over xmas due to the fact that most building sites are also shut but i wouldn't be surprised to see this change in the future due to the increased amout of self employed people now in the building game . I do agree with you looking at the bonus issue from my shareholding point of view but because i have many friends working for breedon i can totally see there point of view , the biggest issue is not the fact they did not recieve one but the complete lack of communication to let them know otherwise , if you always receive something you would have thought threw courtesy you would let your staff know of a change in company policy . i wouldn't have thought any of the other companys pay a bonus but the paying of it is not the issue its the complete lack of respect shown to your employees by not communicating with them at a very important time of the year .
In my experience having an unhappy workforce is not good for productivity and believe me they are not happy , breedon have allways paid a xmas bonus and the employees expected this year to be no different considering record turnover and profits , no communication was made to tell them they would not be having one , not even the usual xmas letter thanking them for there work and wishing them well for xmas , they feel let down & unappreciated . i can see the careers page on there website being very busy this year and i would put money on this effecting the share price .