Breedon Group Plc

AGM Information • Apr 26, 2016

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 3623W

Breedon Aggregates Ld

26 April 2016

News release

26 April 2016

Breedon Aggregates Limited

("Breedon Aggregates" or "Breedon")

AGM Statement

Peter Tom CBE, Chairman of Breedon Aggregates, will deliver the following statement at the Company's Annual General Meeting at 2.00pm today:

"Trading in the first three months of 2016 was in line with our expectations, despite a slow start to the year in Scotland.

"Our major capital investment programme has continued, with a new £3 million asphalt plant at Tom's Forest quarry in Scotland now under construction and due to be commissioned shortly.

"We continue to make good progress with pre-integration planning for the acquisition of Hope Construction Materials Limited.  We also welcome today's positive response from the Competition and Markets Authority regarding the undertakings we have offered to alleviate its concerns over competition in a limited number of local ready-mixed concrete markets.

"As we indicated earlier today in our formal response to the CMA's announcement, we fully expect to be able to finalise the required undertakings to the CMA's satisfaction and complete the required divestments in the near future, paving the way for completion of the acquisition later this summer.

"The outlook for our industry continues to be positive, with ONS estimates suggesting a pickup in construction activity since December 2015 and the MPA forecasting double-digit growth in volumes of all our key products over the next three years. However, the timing and scale of some major projects are still likely to be subject to change and the forthcoming Referendum may create uncertainties in the short term.

"Against this backdrop, we remain confident of delivering a performance in line with market expectations for 2016."

- more -

- 2 -

A further update on the Company's progress will be provided in its interim results announcement on 21 July 2016.

- ends -

Note to editors

Breedon Aggregates is the largest independent aggregates business in the UK after the four global majors.  It operates more than 50 quarries, nearly 30 asphalt plants, around 60 ready-mixed concrete plants and three concrete block plants in England and Scotland and employs approximately 1,200 people.  The group has strong asset backing, with over 500 million tonnes of mineral reserves and resources in the UK.  Breedon Aggregates' strategy is to continue growing organically and through consolidation of the UK heavyside building materials sector.

In November 2015 Breedon announced its intention to acquire Hope Construction

Materials Limited for £336 million. The acquisition is expected to complete later this summer, creating the UK's largest independent building materials group with one of the country's largest cement plants, around 60 quarries, more than 200 ready-mixed concrete plants and approximately 750 million tonnes of mineral reserves and resources.

For further information:

Breedon Aggregates Limited

Pat Ward, Group Chief Executive

Rob Wood, Group Finance Director

01332 694010

Stephen Jacobs, Head of Communications

07831 764592

Cenkos Securities (NOMAD and Joint Broker)

Max Hartley, 020 7397 8900

Peel Hunt (Joint Broker)

Justin Jones / Mike Bell, 020 7418 8900

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMUNRRRNBASUAR