Displaying items by tag: Breedon Group

UK: Breedon Group will rename Hope Cement as Breedon Cement in August 2017. It said in its half-year report for 2017 that the acquisition of Sherburn’s import terminals had broadened its cement business and that it wanted to bring it all under one group brand.

“I am pleased to report that in the first half of 2017 the former Breedon Aggregates business posted a strong profit improvement and the former Hope Construction Materials business made a robust contribution, even after taking into account the shutdowns of both our cement kilns for planned annual maintenance and upgrade during the first half, which were completed on time and to budget,” said executive chairman Peter Tom. The construction materials group doubled its revenue in the first half of 2017 to Euro368m.

The company also said that it had completed the integration of the former Hope operations and all three divisions now use a common IT platform. It expects to deliver synergies of Euro11m in 2018, ahead of its original schedule.

UK: Breedon Group’s sales revenue and profits have been expanded by its acquisition of Hope Construction Materials in 2016. Its revenue rose by 43% year-on-year to Euro523m in 2016 from Euro367m in 2015. Its profit before tax rose by 50% to Euro53.9m from Euro36m. The group also attributed its success to its aggregate business.

“2016 was arguably the most eventful year in the group’s history. We completed our largest acquisition to date, invested a record amount in our business, began supplying our biggest ever contract and delivered an excellent financial performance – all against the background of an uncertain economic environment and challenging trading conditions in many of our markets,” said executive chairman Peter Tom.

The building materials company added cement production to its portfolio when it purchased Hope in mid-2016. It added a cement plant, five new quarries, a network of concrete plants and eight rail-linked distribution depots. In November 2016 it bought Sherburn Minerals, including two terminals in northeast England and eastern Scotland, that are used to import cement and ground granulated blast-furnace slag (GGBS).