Breedon Share Discussion Threads

[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."

[reddave999] 23/7/2015 08:48

Similar situation I should have bought in at 29p but instead bought into Infinis and took a right battering. I followed the story and was glad I got in yesterday ay 50.5 though:)

[cisk] 23/7/2015 08:47

redartbmud, the important thing is that you bought. This has plenty of scope for further growth, I'm penciling in £1 per share in 12-18months. I suspect the long term exit plan will be to sell out to a global player, probably well north of £1.

In the meantime, there's plenty of demand for the product and scope for consolidation in a fragmented industry, and hopefully they'll announce a few bolt-on acquisitions in the coming months.

Particularly like the fact that they are investing in the business, not running it down to shake out cash.

[redartbmud] 23/7/2015 08:42

Going the right way.
Why did I wait until 42p before I bought, when they were recommended to me at 14p?

[mike740] 23/7/2015 08:39

Should get plenty of broker upgrades after the analyst meeting at 9am this morning.

[mike740] 23/7/2015 08:26

Forward Statement.....

Highlights

· Strong trading performance

· Underlying business well ahead of prior year

· Underlying EBITDA margin up to 17.0%

· Huntsmans and former Barr business performing well

· Step-up in capital investment on track

· Mineral reserves & resources replenished

· Several acquisition opportunities under review

Looking ahead Peter Tom CBE, Executive Chairman, commented:

"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."

- ends -

[mike740] 23/7/2015 08:20

23 July 2015

Breedon Aggregates Limited
("Breedon Aggregates" or "the Group")

Interim results (unaudited) for the six months to 30 June 2015

Breedon Aggregates, the UK's largest independent aggregates business, announces its unaudited interim results for the six months ended 30 June 2015.


30 June 2015

30 June 2014

Change

Revenue

£160.5 million

£125.2 million

+ 28%

Underlying EBITDA†

£27.3 million

£17.8 million

+ 54%

Profit before tax

£17.5 million

£9.1 million

+ 92%

Underlying basic EPS†

1.29 pence

0.73 pence

+ 77%

Net debt

£58.3 million

£63.0 million




† Underlying results are stated before acquisition related expenses, redundancy and reorganisation costs, property items, amortisation of acquisition intangibles and related tax items. References to an underlying profit measure throughout this Announcement are defined on this basis.



4.5 million tonnes of aggregates sold (30 June 2014: 3.6 million tonnes)
0.9 million tonnes of asphalt sold (30 June 2014: 0.7 million tonnes)
0.4 million cubic metres of ready-mixed concrete sold (30 June 2014: 0.3 million cubic metres)



Highlights
· Strong trading performance

· Underlying business well ahead of prior year

· Underlying EBITDA margin up to 17.0%

· Huntsmans and former Barr business performing well

· Step-up in capital investment on track

· Mineral reserves & resources replenished

· Several acquisition opportunities under review








Looking ahead Peter Tom CBE, Executive Chairman, commented:

"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."


- ends -

The full text of the Group's interim statement is attached, together with detailed financial results.

Breedon will host a meeting for invited analysts at 9.00am today and there will be a simultaneous dial-in broadcast of the meeting. Please call 0844 335 0993 to listen to the broadcast. The passcode is 79071269 #. A recording of the meeting will be available to play or download from our website later today at hxxp://www.breedonaggregatesir.com and the presentation can also be viewed or downloaded from the same location from 8.55am this morning.

[mike740] 23/7/2015 08:17

Yep forget the tap just buy a new kitchen.

[elmfield] 23/7/2015 07:44

Looks like the roof is now fixed.

[germanicus] 23/7/2015 07:38

Splendid! ;)

GLA

[cisk] 23/7/2015 07:22

Superb interims announced this morning:

Revenue up 28%

PBT up 92%

actively pursuing acquisitions

Debt down £4.7m to £58.3m

[mike740] 22/7/2015 16:56

What about your roof? he he.

Sorry elm, couldnt help it.

cheers.

[reddave999] 22/7/2015 16:47

Nor mine lol

[mike740] 22/7/2015 16:30

Well its not my tap.

[elmfield] 22/7/2015 16:21

Something leaking?

[mike740] 22/7/2015 13:18

Well done, YOUR THE MAN.

[reddave999] 22/7/2015 12:39

Just bought in at 50.64.

[mike740] 22/7/2015 11:28

Historically this looks very cheap was trading on historic P/E of 34.5 last year forecast to fall to just over 20 to 2016, plenty of room for growth.

EPS growth 34.3% this year 26.6% 2016 and a PEG of less than 1, top line growth story.

BREE Breedon Aggregates Ltd

FORECASTS

2015 2016
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Cantor Fitzgerald Europe
21-07-15 BUY
Peel Hunt LLP
17-07-15 BUY 25.99 1.97 33.47 2.56
Goodbody Stockbrokers
03-07-15 BUY 1.97 2.43
Numis Securities Ltd
03-03-15 ADD 25.60 1.90 30.00 2.2

2015 2016
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 25.84 1.97 32.17 2.50
1 Month Change 0.00 0.00 0.03 0.00
3 Month Change 0.04 0.00 0.31 0.06

GROWTH
2014 (A) 2015 (E) 2016 (E)
Norm. EPS 33.41% 34.39% 26.65%
DPS % % %

INVESTMENT RATIOS
2014 (A) 2015 (E) 2016 (E)
EBITDA £38.93m £45.42m £51.67m
EBIT £23.53m £29.48m £35.38m
Dividend Yield 0.00% % %
Dividend Cover x x x
PER 34.45x 25.64x 20.24x
PEG 1.03f 0.74f 0.76f
Net Asset Value PS 14.12p 18.45p 21.06p

[mike740] 22/7/2015 10:03

BREE Breedon Aggregates broker views.......


Date Broker Rec. Price Old target price New target price Notes
08 Jun 15 Cantor Fitzgerald Buy 50.50 - - Reiterates
08 Jun 15 Cantor Fitzgerald Buy 50.50 - 55.00 Initiates/Starts
26 Mar 15 Jefferies International Buy 50.50 50.00 59.00 Upgrades
17 Mar 15 Berenberg Buy 50.50 54.00 56.00 Reiterates
03 Mar 15 Numis Add 50.50 58.00 58.00 Downgrades
02 Feb 15 Goodbody Buy 50.50 - - Reiterates

[mike740] 22/7/2015 09:32

Found it, tomorrow........

17 April 2015
Breedon Aggregates Limited
("Breedon Aggregates" or the "Company")

AGM Statement

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

"Trading in the first quarter has been strong. Sales revenue increased by around 30% compared to the same period last year, with acquisitions contributing about half of this growth. Both England and Scotland delivered improved performances and England experienced a particularly strong start to the year on the back of buoyant demand and good weather.

"The businesses acquired last year are performing in line with expectations and our existing operations also continue to deliver organic improvement. We have commenced a major planned capital investment programme at the former Barr business, acquired in November last year, which is expected to improve productivity and profitability in the coming months.

"The outlook for UK construction, and consequently the demand for our products, continues to be positive. The main political parties have emphasised their commitment to investment in housing and infrastructure, which should drive continuing growth after the election. We remain confident of delivering a performance in line with our expectations in 2015.

"We will give a further update on the Group's progress in our interim results announcement on 23 July 2015."

- ends -