Home Features Breedon Group records revenue of €798m for first half of 2022

Breedon Group records revenue of €798m for first half of 2022

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Breedon, the group behind Lagan construction materials and contracting, has reported a revenue of £671.1m (€798.2m) for the first six months of 2022.

The UK and Ireland-based company released its unaudited interim results today, showing a 12% increase in revenue from the first six months of 2021.

Breedon recorded a profit of £59.5m (€71.2m) before tax from January to June 30, a 29% year-on-year increase, while EBIT totaled £65.5m (€77.9m) for the same period.

The building services group, which has over 20 Irish locations, generated revenues of just over £1.23bn (€1.46bn) last year, and, in a statement, said that it was “optimistic” about 2022.

“Our customers’ order books are healthy, the mechanism for passing through cost increases has traction and enquiry levels are encouraging,” the statement read.

The company added that infrastructure demand was well supported by large long-term projects and centrally funded schemes, while house building order books remain robust. Breedon is also benefiting from the UK and Ireland’s environmental goals.

“We enjoyed a strong start to 2022. Our teams are focused on getting pricing right, our end market exposure is supportive and that has produced excellent results, advancing our margins and returns towards our medium term targets,” said CEO Rob Wood.

“Our colleagues are embracing the challenges presented by the uncertain backdrop, remaining focused on responding nimbly to local market requirements, winning new business, driving efficiencies and delivering first-class service to our customers.”