Breedon Group Revenue Up Despite Subdued GB Market

In its latest trading update, Breedon Group’s revenue increased by 5% to £858 million, boosted by a strong start to the first half of year in the United States and Ireland.

However, underlying EBITDA was broadly flat, brought down by further declines in Great Britain’s residential markets – although slightly improved on a like-for-like basis (+1%).

Aggregates (+8%) and asphalt (+6%) volumes each saw encouraging like-for-like levels of growth, but ready-mixed concrete was subdued.

Subdued Market

In Great Britain, revenues reflected largely flat volumes and pricing, resulting in a 3% decline in Underlying EBITDA compared to the first half of 2025.

Ready-mixed concrete volumes declined a further 8% compared to the previous year, which put pressure on both pricing and margins. Elsewhere, cement earnings were stable, and there were signs of market stabilisation for aggregates and asphalt, which also benefitted from major infrastructure project wins and delivered volume and price growth.

In contrast, both the United States and Ireland delivered strong trading results, as revenues increased by 20% and 12% respectively, supported by increased levels of construction activity in RoI and more stable weather patterns in the US.

Outlook

Despite challenging markets in Great Britain, the Group says it expects its full year performance to be in line with current market expectations for 2026.

Rob Wood, Breedon Group CEO, commented: “We have delivered a really solid financial performance in the first half and I am pleased with the progress we have made on our strategic objectives.

“We have continued to deliver self-help through our operational excellence programmes, and the bolt-on acquisitions, which we have completed in the US and Ireland.

“We are building an increasingly diversified business in the structurally attractive Irish and US markets, where we see supportive conditions for both volumes and pricing, while still retaining significant upside in GB once volumes recover.

“Across the balance of the year, we expect continued positive momentum in Ireland and the US, with organic growth supported by contributions from the acquisitions completed to date. In GB, although infrastructure activity provides some near-term support and structural demand drivers underpin a more positive medium-term outlook, volumes are expected to decline for a fifth consecutive year during 2026.

“With a strong team, significant mineral reserves and well-invested production capacity, we are well positioned to deliver long-term growth and returns across all three of our platforms.”

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