Breedon Group PLC AGM Statement (2387D)
April 25 2017 - 3:52AM
UK Regulatory
TIDMBREE
RNS Number : 2387D
Breedon Group PLC
25 April 2017
News release
25 April 2017
Breedon Group plc
("Breedon Group" or "Breedon")
AGM Statement
Peter Tom CBE, Chairman of Breedon Group, will deliver the
following statement at the Company's Annual General Meeting at
2.00pm today:
"Trading in the first three months of 2017 was in line with our
expectations.
"We have made excellent progress with the integration of the
former Hope Construction Materials and Sherburn Minerals
businesses. Their operations have all been integrated as
appropriate into Breedon Northern, Breedon Southern and Hope
Cement, each of which is now operating as a fully autonomous
division. The migration of all three divisions onto a common IT
platform is well underway and will be completed in the next few
months.
"Meanwhile we are continuing to invest in capacity and
operational improvements across the Group, with capital
expenditure, as planned, expected to run ahead of depreciation
again this year.
"The outlook for our industry continues to be positive. The
Construction Products Association is forecasting a five per cent
increase in construction output between 2017 and 2019, with the
strongest growth expected to be in infrastructure and housing,
which together have historically accounted for approximately
two-thirds of our end-use markets.
"Against this backdrop, we remain confident of delivering a
performance in line with market expectations for 2017."
A further update on the Company's progress will be provided in
its interim results announcement on 20 July 2017.
- ends -
Note to editors
Breedon Group plc is the UK's largest independent construction
materials group, with the country's largest cement plant, two
cementitious import terminals, around 60 quarries, 26 asphalt
plants, nearly 200 ready-mixed concrete plants and three concrete
products plants nationwide. The Group employs around 2,300 people
and has more than 750 million tonnes of mineral reserves and
resources. Its strategy is to continue growing organically and
through acquisition of businesses in the UK heavyside construction
materials market.
For further information:
Breedon Group plc
Pat Ward, Group Chief Executive
Rob Wood, Group Finance Director
01332 694010
Stephen Jacobs, Head of Communications
07831 764592
Cenkos Securities (NOMAD and Joint Broker)
Max Hartley, 020 7397 8900
Peel Hunt (Joint Broker)
Justin Jones / Mike Bell, 020 7418 8900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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