Last checked at 23 May 2011 14:58
23 May 2011
Breedon Aggregates Limited (the "Company")
At today's Annual General Meeting of the Company its Chairman, Peter Tom, made the following statement:
"Trading in the first three months of the year was encouraging, with a marked improvement in the performance of our English business, and sales continued to hold up reasonably well in April despite the dampening effect of two bank holidays and the Royal Wedding. We have been particularly pleased that asphalt price increases have held, helping to offset sharply higher bitumen costs.
We continue to evaluate a number of acquisition opportunities which have the potential to strengthen our business and add value for our shareholders.
It is still early in the year and our main trading period lies ahead of us, with the full impact of public sector spending cuts yet to manifest itself, especially in Scotland. However, our performance to date is in line with our expectations, our business improvement plans are yielding pleasing results and we look forward to the rest of the year with confidence."
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More about Breedon Aggregates
Breedon Aggregates Limited is the largest independent aggregates group in the UK after the five global majors. It operates 23 quarries, 18 asphalt plants and 27 concrete plants in England and Scotland and employs approximately 700 people.
The group has strong asset backing, with approximately 180 million tonnes of mineral reserves and resources in the UK, providing an estimated life of approximately 50 years at current output levels.
Breedon Aggregates' strategy is to grow through consolidation of the UK heavyside building materials sector.
For further information:
Breedon Aggregates Limited
Simon Vivian, Group Chief Executive
Ian Peters, Group Finance Director
01332 694010
Stephen Jacobs, Head of Communications
07831 764592