US: Vulcan Materials' 2014 fourth quarter earnings surged on continued growth in aggregates shipments and stronger average selling prices. The company has also been expanding through a string of deals. Vulcan reported that it spent US$322m for bolt-on acquisitions during 2014.
"Strong momentum in the latest quarter bodes well for 2015, a year in which we expect a continued recovery in demand for our products and, importantly, an improving pricing and margin environment," said Chief executive Tom Hill. "Although aggregates demand remains well below normal levels, this steady and gradual improvement is a further indication of construction activity recovery," said Hill.
Vulcan reported a profit of US$38m in the fourth quarter of 2014, up from US$9.1m in the same period of 2013. Revenue during the period increased by 11% to US$755m. Vulcan said that the latest results benefited by around US$7m as the result of lower diesel fuel costs, mostly in its aggregates business.