Source: Sharecast
The FTSE 250 firm, which sells across Great Britain, Ireland and the US, saw revenues rise 9% in the year to December end, to £1.7bn, boosted by acquisitions. On a like-for-like basis, sales softened 3% on the back of lower GB volumes and project deferrals in Ireland.
However, cost management helped lift underlying earnings before interest, tax, depreciation and amortisation 3% to £278.8m, ahead of consensus for £276m and at the top end of company guidance. Free cash flow strengthened 17% at £133.2m, the highest post Covid.
Breedon, Britain’s largest cement manufacturer, acknowledged 2025 had been a "testing" year.
However, chief executive Rob Wood said: "We achieved a great deal despite challenging markets, political uncertainty and weak business and consumer confidence, the missing ingredients for construction project activity.
"We expanded and diversified in the US, improved our GB and Ireland businesses, progressed our sustainability strategy, took care of our people and maintained our strong and flexible balance sheet."
Looking to the current year, Breedon said UK construction market indicators continued to be subdued, although there were some signs the market was stabilising.
In Ireland, however, it called the outlook "encouraging", while in the US it noted: "Infrastructure spending plans are supportive while the outlook for residential housebuilding is less certain.
"Weather patterns in the Midwest to date have been more normal compared to 2025, and the business has traded encouragingly in the year to date."
As at 0900 GMT, Breedon’s shares were trading up 4% at 334.6p.