MetiNews.Com Breedon makes a very strong recovery post-lockdown Breaking news

MetiNews.Com - Construction materials business Breedon (BREE:AIM) gained 3.8% to 76.8p as it reported a strong recovery in demand post-lockdown.

MetiNews.Com Breedon makes a very strong recovery post-lockdown Breaking news

MetiNews.Com - Construction materials business Breedon (BREE:AIM) gained 3.8% to 76.8p as it reported a strong recovery in demand post-lockdown.

MetiNews.Com  Breedon makes a very strong recovery post-lockdown Breaking news
17 September 2020 - 10:32

Breaking News ! Construction materials business Breedon (BREE:AIM) gained 3.8% to 76.8p as it reported a strong recovery in demand post-lockdown. Breedon is the UK’s leading aggregates play. Aggregate is a term given to material frequently used in construction as a means of stabilising and reinforcement and includes items like sand, gravel and concrete. The company reinstated guidance and said it expected annual performance to top current market expectations supported by a return in demand since early May. Breedon said it had delivered revenue for the first eight months of the year of £531 million, down from £624 million for the same period 12 months ago.

. FORECASTS UPGRADED Full-year market expectations for underlying EBIT was £57 million, with a range of £49 million to £70 million. Numis analyst Christen Hjorth, who upgraded his 2020 EBIT forecast by 35% to £66 million in response to the update, commented: ‘Breedon’s almost five-fold increase in EBIT over 2014-2019 was achieved despite a number of competitors pointing to profit declines. ‘In our view, this clearly demonstrates the advantages of the group’s business model and the multi-year benefits of its M&A strategy. Furthermore, looking forward, we believe that Breedon is particularly well-placed given its exposure to UK infrastructure activity. ‘Indeed, the Government has a clear mandate for increased investment and a good track record of leveraging infrastructure spend during times of crisis. For example, UK infrastructure activity in the three years following the 1990 and 2008 recessions increased by 21% and 54%, respectively.’

Source = MetiNews.Com

This news 32 hits received.

MetiNews.Com Breedon makes a very strong recovery post-lockdown Breaking news


MetiNews.Com Breedon makes a very strong recovery post-lockdown Breaking news


MetiNews.Com Breedon makes a very strong recovery post-lockdown Breaking news


MetiNews.Com Breedon makes a very strong recovery post-lockdown Breaking news

COMMENTS

  • 0 Comment
Last News
MAY INTEREST YOU x
Daily uk news  Louisville cop is SHOT as clashes erupt between BLM rioters and police after grand jury cleared officers over Breonna Taylor's death as National Guard prepares for 9pm curfew  MetiNews.Com
Daily uk news Louisville cop is SHOT as clashes erupt between BLM...
Daily uk news  Families could lose the cost of booked half-term holidays amid fears England will follow Scotland's tougher Covid rules - as Nicola Sturgeon warns families: 'Don't book foreign trips' MetiNews.Com
Daily uk news Families could lose the cost of booked half-term...