Jump in pre-tax profits at Breedon

Breedon said strong demand in other parts of the UK and Ireland had offset “subdued” market conditions in Scotland during the first six months of 2019.

The building materials company – whose Scottish operations employ about 800 people at around 35 quarries, six asphalt plants, more than 40 ready-mixed concrete sites and three concrete product facilities – posted a 30% year-on-year jump in pre-tax profits, to £39.5 million, for the period.

Revenue was up by 18% at £447.4m in results boosted by a full six-month contribution from Lagan, following Breedon’s £455m takeover of the Northern Irish business last year.

Breedon said it had

“An improved performance by the group in the first half”

enjoyed a good start to July, while the mediumterm market outlook was positive.

It also said it was confident of meeting fullyear expectations and had a healthy acquisition pipeline in place.

Chief executive Pat Ward said: “We are pleased once again to be reporting an improved performance by the group in the first half.

“The period began well, with benign weather in the first quarter and generally healthy demand for our products, particularly in England, Wales and the Republic of Ireland, somewhat offset by fewer large projects in Scotland.”

Associate company Bear Scotland manages Scotland’s north-west and north-east trunk road networks on behalf of Transport Scotland.

Leicestershire-based Breedon holds a majority stake in Inverness-based traffic management services firm Alba Traffic Management.