Breedon Group Posts Downbeat Half Year Results

BREEDON GROUP says challenging markets in GB, major project delays in Ireland and adverse US weather conditions all contributed to a downbeat first half of 2025.

In a trading update for the six months to 30 June 2025, Breedon Group – UK parent company to Welsh Slate – reported a 7% uptick in revenue to £815.9 million. The increase was driven by the recent acquisition of construction materials and surfacing solutions business, Lionmark.

However, like-for-like revenue and underlying EBITDA decreased by 3%, with the company reporting lower volumes across all key product categories. As a result, pre-tax profit fell to £34.9 million in the first half of 2025, down 25% from £46.5 million the previous year.

Adjusted underlying earnings for the period decreased to 11.2p (H1 2024: 13.9p), reflecting lower profitability together with increased interest charges. Basic statutory earnings also dipped 20% to 8p per share (H1 2024: 10.0p).

Downbeat Results

Given this difficult first half and macroeconomic headwinds, Breedon now predicts its full year profit guidance will be “at the low end” of current market expectations.

However, despite this challenging period, the Group says it is “encouraged” by the UK government’s plans to invest at least £725 billion into infrastructure over the next decade which “should underpin future demand” and that the company is “well invested and optimally positioned to benefit when construction market activity improves”.

Rob Wood, Chief Executive Officer, commented: “Breedon has had a challenging first half to the financial year. However, I am pleased at how our teams have responded to those challenges by renewing their focus on self-help and customer service while ensuring we maintain our commercial discipline.

“We are confident in the medium-term prospects for the Group and the very nature of our business, supplying local products within local markets, provides a degree of protection in the current uncertain economic climate.

“We have a strong and committed team, three leading platforms in geographies that have structural long-term growth drivers, significant reserves and resources and a well invested production capability.”

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