Breedon Share Discussion Threads

[konkel] 11/9/2015 14:26

Written up in IC.

[miss womble] 11/9/2015 10:17

Over 2 million shares bought at middle price. Seems to me as if there is something going on.

[elmfield] 11/9/2015 10:11

Good to hear!

[reddave999] 10/9/2015 18:35

Breedon tipped in IC this week :)

[reddave999] 26/8/2015 16:00

New gaffa coming on board GLA

[elmfield] 27/7/2015 11:52

And so they should,
Topped up today.

[konkel] 27/7/2015 10:26

Berenberg upgrade and TP raised to 70p.

[mike740] 24/7/2015 09:19

House broker Peel Hunt said the first half numbers were "well ahead" of expectations.

It has repeated a 'buy' rating on the shares and lifted its price target to 60p from 53p.

The City firm has also lifted its estimates for pre-tax profit by 23% for 2015, 16% for 2016 and 21% for 2017.

On revised 2016 forecasts, the broker said the group was trading on 17.6 times PE (price-earnings).

Analyst Clyde Lewis said: "We continue to believe this represents very good value for a business which looks well set to outperform its peer group organically in an attractive market place. Any deals on top will be jam."

Breedon shares rose 2.38% to 53.75p on Thursday. They are up 9% on the year-to-date, after a 16% rise in 2014.

"While this is better than the market, this performance has seen the shares underperform the wider building materials and merchants peer group," said the broker.

[mike740] 24/7/2015 09:18

Breedon Aggregates confident after bumper first half

14:30 23 Jul 2015

Buoyant demand, good weather, acquisitions chipping in and the fall in oil prices all contributed.
Aggregates group Breedon (LON:BREE) saw exceptional performances in both England and Scotland as interim sales and profits surged ahead.

Buoyant demand, good weather, acquisitions chipping in and the fall in oil prices all contributed to make it a bumper half, said the quarry owner.

Underlying profits [EBITDA] jumped by 54% to of £27.3mln in the six months to June, which was ahead of expectations, while revenues climbed 28% to £160.5mln. Pre-tax profits rose 92% to £17.5mln.

The group sold 4.5mln tonnes of aggregates (3.6mln tonnes), 0.9mln tonnes of asphalt (0.7mln) and 0.4mln cubic metres of ready-mixed concrete (0.3mln).

Peter Tom, executive chairman, said it had been a strong half with March a record month for the group.

"Assuming that current trading conditions continue through the second half of 2015, we believe that market expectations for the year will be exceeded," he added.

The group also exceed its EBITDA margin target of 15% and is now targeting around 20% by 2020, which was the sector norm pre-recession, he said.

Trade body forecasts are for volume growth of around 5% over the next few years, a rate of growth that would take aggregates consumption back to pre-recession levels by 2020.

Breedon had several potential acquisition opportunities under review, Tom added.

Chief executive Simon Vivian told Proactive that the business tended to follow GDP and economic activity and the UK's underlying economic recovery meant the firm reckoned its prospects for the next few years were "pretty good".

He pointed for example to the recent Budget, in which a major programme for refurbishing England's roads was unveiled.

"The election result and the certainty that produced have meant things have moved forward well. The political environment is good. The government seems very keen on investing in infrastructure going forward. That is going to be good for our products."

House broker Peel Hunt said the first half numbers were "well ahead" of expectations.

It has repeated a 'buy' rating on the shares and lifted its price target to 60p from 53p.

The City firm has also lifted its estimates for pre-tax profit by 23% for 2015, 16% for 2016 and 21% for 2017.

On revised 2016 forecasts, the broker said the group was trading on 17.6 times PE (price-earnings).

Analyst Clyde Lewis said: "We continue to believe this represents very good value for a business which looks well set to outperform its peer group organically in an attractive market place. Any deals on top will be jam."

Breedon shares rose 2.38% to 53.75p on Thursday. They are up 9% on the year-to-date, after a 16% rise in 2014.

"While this is better than the market, this performance has seen the shares underperform the wider building materials and merchants peer group," said the broker.

[mirandaj] 24/7/2015 09:07

Local coverage in Scotland:



Comment from Geoff Foster:

"Star fund manager Neil Woodford is a major shareholder of Breedon Aggregates and must have been delighted with the strong interims which helped the shares touch 57.5p and close 1p up at a year’s peak of 53.5p.

First-half pre-tax profits surged 92 per cent to £17.5m on revenues of £160.5m, up 28 per cent. The board is confident it will beat expectations for the full year. Net debt fell to £58.3m from £63m."

[mike740] 24/7/2015 08:55

Breedon Aggregates BREE) had its add rating reissued by analysts at Numis Securities Ltd. currently has a GBX 58 ($0.91) price target.

[mike740] 23/7/2015 16:15

Breedon Aggregates posts strong first half; says it's set to beat full-year expectations
Thu 23 July 2015 15:40 | A A A

(ShareCast News) - Breedon Aggregates posted a 92% rise in first-half pre-tax profit amid growing revenue, as the company said it looks set to beat market expectations for the full year.

Pre-tax profit for the six months to 30 June came in at £17.5m from £9.1m the previous year, on revenue of £160.5m, up 28% from £125.2m.

Underlying basic earnings per share came in at 1.29p from 0.73p, while net debt fell to £58.3m from £63m.

The company said it had enjoyed a strong trading performance, with 4.5m tonnes of aggregates sold versus 3.6m in the same period in 2014, 0.9m tonnes of asphalt sold compared with 0.7m and 0.4m cubic metres of ready-mixed concrete versus 0.3m.

Executive chairman Peter Tom CBE said: "Trading during the first half was strong, with both the underlying business and recent acquisitions performing ahead of our expectations. March was a record month for the group, with exceptional performances from both England and Scotland.

"Assuming that current trading conditions continue through the second half of 2015, we believe that market expectations for the year will be exceeded."

At 14:48, shares were up 1.9% at 53.50p.

[mike740] 23/7/2015 15:47

Breedon Aggregates (LON:BREE) had its buy rating reaffirmed by analysts at Goodbody Stockbrokers Ltd.

Breedon Aggregates (LON:BREE) had its add rating reissued by analysts at Numis Securities Ltd. Numis Securities Ltd currently has a GBX 58 ($0.91) price target on the stock.

[mike740] 23/7/2015 10:44

Goodbody Stockbrokers Ltd Reaffirms Buy Rating for Breedon Aggregates (BREE)
Posted by Joseph Griffin on Jul 23rd, 2015

Breedon Aggregates (LON:BREE)‘s stock had its “buy” rating reaffirmed by investment analysts at Goodbody Stockbrokers Ltd in a note issued to investors on Thursday, MarketBeat.com reports.
Shares of Breedon Aggregates (LON:BREE) opened at 54.9300 on Thursday. Breedon Aggregates has a 1-year low of GBX 39.41 and a 1-year high of GBX 57.75. The stock’s 50-day moving average is GBX 47.88 and its 200-day moving average is GBX 47.27.
Several other analysts have also recently commented on the stock. Analysts at Numis Securities Ltd reiterated an “add” rating and set a GBX 58 ($0.91) price target on shares of Breedon Aggregates in a research note on Thursday. Separately, analysts at Jefferies Group upgraded shares of Breedon Aggregates to a “buy” rating and raised their price target for the stock from GBX 50 ($0.78) to GBX 59 ($0.92) in a research note on Thursday, March 26th.

Breedon Aggregates Limited is a United Kingdom-based aggregates company. The principal activities of the business are quarrying of aggregates and the production of added value products, including asphalt and ready-mixed concrete, collectively known as aggregates, together with related activities in Great Britain and Jersey. The Company has two operating segments: England and Scotland. The England segments operates 15 quarries, nine asphalt plants and 23 ready-mixed concrete and mortar plants, serving the East & West Midlands and East Anglia, Wales, Greater Manchester and South Yorkshire. Its English surfacing contracting business undertakes road surfacing projects, as well as infrastructure contracts. The Scotland segment operates 38 quarries, 18 asphalt plants, 37 ready-mixed concrete plants and two concrete block plants, primarily supplying the north, west and east of Scotland, including the Hebrides.

[cisk] 23/7/2015 10:23

Nice one Mirandaj - very interesting presentation.

Particularly like the emphasis on serving local markets and keeping costs under control.

[mike740] 23/7/2015 10:15

23 Jul 2015 Breedon Aggregates BREE Goodbody Buy 54.50 52.50 - - Reiterates

[mike740] 23/7/2015 10:15

Cheers Mirandaj.........having a look now. Thanks

[mirandaj] 23/7/2015 09:47

Well worth looking at their presentation regarding the future etc

[cisk] 23/7/2015 09:46

thanks for that Mike - although I suspect there will be a few upgrades, 55-58p looks a tad pessimistic...

[mike740] 23/7/2015 09:42

23 Jul 2015 Breedon Aggregates BREE Cantor Fitzgerald Buy 54.50 52.50 55.00 55.00 Reiterates

SP Target 55p

[mike740] 23/7/2015 09:31

23 Jul 2015 Breedon Aggregates BREE Numis Add 54.50 52.50 58.00 58.00 Reiterates

58p share price TARGET.

[mike740] 23/7/2015 08:48

from iii....

Breedon Aggregates pre-tax profits up 92%
By StockMarketWire | Thu, 23rd July 2015 - 07:34

Breedon Aggregates posts pre-tax profits of £17.5 million for the six months to the end of June - 92% up on last time.

Revenues were up 28% at £160.5m and underlying EBITDA rose by 54% to £27.3m.

Looking ahead executive chairman Peter Tom said: "Trading during the first half was strong, with both the underlying business and recent acquisitions performing ahead of our expectations. March was a record month for the Group, with exceptional performances from both England and Scotland.

"Assuming that current trading conditions continue through the second half of 2015, we believe that market expectations for the year will be exceeded."