Breedon revenues rise as US, Ireland offset weak Great Britain

(Sharecast News) - Construction materials company Breedon Group posted a solid first-half performance, with revenue rising 5% to £857.9m as strong trading in Ireland and the US offset continued weakness in Great Britain.

Like‑for‑like revenue grew 3%, while underlying EBITDA was broadly unchanged at £115.5m, supported by a 14% improvement in the US.

The company said geographic diversification continued to benefit results, with Ireland delivering 12% revenue growth and the US advancing 20% on reported terms.

Great Britain remained subdued, with flat revenue and a 3% decline in underlying EBITDA as residential construction volumes fell for a fifth consecutive year. Aggregates and asphalt showed signs of stabilisation, helped by infrastructure project wins.

Breedon deployed £110m of capital on bolt‑on acquisitions in the US and Ireland, including Falling Springs in St Louis and Booth in Dublin, both described as strategically compelling additions. Covenant leverage reduced slightly to 2.1x, and the group said strong cash generation should support further deleveraging in the second half.

The board maintained full‑year guidance, expecting 2026 performance to remain in line with market expectations. Management anticipates continued positive momentum in Ireland and the US, while Great Britain is expected to see another year of declining volumes despite pockets of infrastructure support.

Reporting by Frank Prenesti for Sharecast.com