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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Breedon Group Plc | BREE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.00 | 0.22% | 448.00 | 16:35:28 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 448.00 | 447.50 | 452.50 | 448.00 | 447.00 |
| Industry Sector |
|---|
| CONSTRUCTION & MATERIALS |
| Top Posts |
|---|
Posted at 25/11/2024 11:47 by robow from CitywirePeel Hunt lifts Breedon target Breedon (BREE) has performed well this year but the shares still have further to go, says Peel Hunt. Analyst Clyde Lewis retained his ‘add’ recommendation and increased the target price from 465p to 500p on the Citywire Elite Companies AA-rated construction materials group, which was trading up 1.1%, or 5p, at 444p. The group has indicated that it is on track to meet market consensus for the full year and ‘believes 2024 will be the trough for construction activity’. Revenues rose 7% in the first 10 months, with like-for-like revenue down 4%. ‘The shares have performed well in 2024, rallying 24%,’ said Lewis. ‘On our unchanged forecasts they are trading on a price/earnings of only 12 times for full-year 2025 with an enterprise/[pre-tax profits] of 6.7 times. These multiples continue to look attractive to us given the group’s historic ability to deliver growth. |
Posted at 30/10/2024 14:07 by weemonkey This Budget should be very good for BREE one would think |
Posted at 29/7/2024 16:01 by robow from CitywireDeutsche: New growth runway at ‘resilientR Breedon (BREE) is showing ‘resilience in the face of challenging conditions’, says Deutsche Bank. Analyst Christen Hjorth retained his ‘buy’ recommendation and target price of 520p on the Citywire Elite Companies AA-rated construction materials group, which gained 1.6% to 413.6p on Friday. It reported ‘robust’ first-half results in a ‘weather-impac ‘Management points to its full-year expectations remaining unchanged,’ he said. ‘We therefore retain our [pre-tax earnings] forecasts, although earnings per share nudges up modestly due to lower finance costs and tax. Hjorth calculated that Breedon trades on a 2024 price to earnings ratio of 13 times and a dividend yield of 4%. ‘We view these as attractive valuation metrics for a company with scope for a meaningful volume recovery and margin normalisation, alongside a new potential US growth runway.’ |
Posted at 25/7/2024 09:04 by my retirement fund I'm not seeing a problem there. Dividend increasing and excellent long term outlook. A good performance given the challenging spring and terrible summer weather. |
Posted at 24/7/2024 14:58 by swiss paul Breaking down you mean!What a load of guff BREEDON GROUP PLC Interim results 2024 Strategic progress delivers a resilient performance BMC trading ahead of plan; integration progressing well Management expectations for the full year unchanged Breedon Group plc (Breedon or the Group), a leading vertically-integrate Statutory highlights Underlying1highlight £m except where stated H1 2024 H1 2023 % change H1 2024 H1 2023 % change % LFL2 Revenue 764.6 742.7 3% 764.6 742.7 3% (6)% EBITDA3 103.4 103.9 - 118.1 112.3 5% (5)% EBITDA3 margin 13.5% 14.0% (50)bps 15.4% 15.1% 30bps EBIT4 56.9 62.1 (8)% 71.6 70.5 2% (9)% EBIT4 margin 7.4% 8.4% (100)bps 9.4% 9.5% (10)bps Profit Before Tax 46.5 56.5 (18)% 61.2 64.9 (6)% Basic EPS5 10.0p 13.0p (23)% 13.9p 15.3p (9)% Dividend per share 4.5p 4.0p 13% Net Debt6 472.3 220.4 114% Covenant Leverage7 1.6x 0.7x 0.9x ROIC8 8.8% 10.0% (120)bps FINANCIAL HIGHLIGHTS Third platform launch and resilient pricing offset weather impact and market headwinds · Revenue increased 3% supported by our entry into the US · Pricing contributed 2ppt, offset by 8ppt volume reduction which principally reflects wet weather conditions across the Group and challenging markets in GB · Underlying EBIT increased 2% backed by disciplined operational efficiency and cost recovery Financial position retains strategic flexibility · Covenant Leverage increased to 1.6x; remains comfortably within our target range of 1x to 2x · RCF refinanced; securing access to longer-term finance and greater liquidity with incremental reduction in ongoing debt service costs · Seasonal working capital outflow as expected · Post-tax ROIC 8.8%; reflecting short-term dilution from the BMC acquisition and impact of increased corporate tax rates Interim dividend increased to 4.5p; demonstrating confidence in the long-term growth outlook OPERATING HIGHLIGHTS Operational performance benefitted from flexible local model and agile execution · GB revenue decreased 5%; robust surfacing performance and modest price progression, partially offset by volume declines related to the more challenging market. Underlying EBIT down 17%, impacted by operational gearing · Strong performance in Ireland where Underlying EBIT improved by 37%; successful tendering season and healthy order book with growing activity levels following resumption of the governing Assembly at Stormont · BMC trading ahead of prior year and plan; contributing nearly four months of revenue and earnings with healthy markets and a robust order book · Cement Underlying EBIT margin improved to 15.2%; soft volumes offset by resilient pricing, lower energy costs and increased provision of lower clinker content cement STRATEGIC HIGHLIGHTS Active M&A pipeline in all geographies · Launched a scalable third platform in the fragmented and growing US construction materials market through the acquisition of BMC · M&A pipeline across the three platforms remains well populated and active, completing two bolt-on transactions in GB Sustainability agenda succeeding · Reinvigorated our health, safety and wellbeing strategy, promoting a proactive safety culture with clearer and firmer rules focused on risk elimination · First CDP ratings awarded (Climate Change: B, Water Security: C) and targets submitted to SBTi for formal validation · Continue to decarbonise the cement business; increased use of alternative fuels, solar farm construction commenced at Kinnegad, increased sales of CEM II, and further progress on Peak Cluster Strategic initiatives and investment drive operational excellence · Quarry operational improvement programme being implemented from 'face to gate', delivering efficiencies and process improvements · BMC integration progressing well; investment made in health and safety, quarry optimisation, technology and sustainability CURRENT TRADING AND OUTLOOK Growth expected in all our markets from 2025 as economic and political landscape stabilises · The new UK Government's growth agenda appears supportive of the construction market, in particular housebuilding and infrastructure. Alongside the resumption of a governing Assembly at Stormont, these are encouraging developments · In RoI, where we have secured positions on high-profile road projects, recent reports reinforce the long-term structural need for housing and infrastructure investment · In the US, market fundamentals and long-term growth prospects are underpinned by significant infrastructure and housing deficits alongside robust stimulus funding and healthy state budgets · All our markets are expected to benefit from falling interest rates in the months ahead · Our healthy balance sheet provides us with the strategic flexibility to invest for growth, maintain our progressive dividend policy and execute bolt-on acquisitions across each platform · Management expectations for the full year remain unchanged with Underlying EBIT slightly more weighted towards the second half than is typical Rob Wood, Chief Executive Officer, commented: "For the team to deliver such a resilient performance given the challenging GB market conditions we have faced is an incredible achievement. "We achieved a major strategic objective in March, entering the US and establishing our third platform with the transformative acquisition of BMC, creating the foundation from which we will build out our US business. We expanded our routes to market, delivering two bolt-on transactions in GB, and growing organically through our downstream businesses, pulling through more of our own material. We moved our sustainable growth strategy forward on all fronts in the first half of 2024 and were pleased to see this recognised by CDP with our first ratings placing us at the forefront of our sector for Climate Change and Water Security. "During this time the quality and flexibility of the Breedon team, of whom I am incredibly proud, have kept us close to our customers, accelerated our drive for efficiencies, and strengthened our operations. As the economic and political clouds clear in GB, our markets will return to growth in time and we will be well placed to grow and succeed. |
Posted at 22/5/2024 05:48 by undervaluedassets According to my sharescope they have holdings amounting to circa 38% of the equity.Ready to stand corrected (Sharescope can get these things wrong) Blackrock have a chunk too.. 9% Anyway what do these high rollers want to do with all this equity - management buyout? takeover? As I said there is something going on.. Can't blame them.. BREE Great business that has been largely snubbed by the market for years despite pleasing results. If silly UK investors don't want it .. someone else will gladly steal it from them for a few pieces of silver. |
Posted at 26/4/2024 07:16 by xamf Swiss Paul. No digestive tracts need to be exposed in response to my chart. It shows the FIB retracement levels should (heaven forbid) Bree falls back from current levels. Don't currently hold but Bree is on my watchlist. |
Posted at 06/3/2024 10:02 by undervaluedassets cash generation very good.I like that alot. Confident dividend increase on the back of it too. |
Posted at 26/7/2023 19:57 by swiss paul Interim results 2023Strong first half; full year expectations maintained Strategic execution and operational focus deliver robust performance Breedon Group plc (Breedon or the Group), a leading vertically-integrate Statutory highlights Underlying1highlight £m except where stated H1 2023 H1 2022 % change H1 2023 H1 2022 % change % LFL2 Revenue 742.7 671.1 11% 742.7 671.1 11% 7% EBIT 62.1 65.5 (5)% 70.5 66.9 5% 4% EBIT margin 8.4% 9.8% (140)bps 9.5% 10.0% (50)bps Profit Before Tax 56.5 59.5 (5)% 64.9 60.9 7% Basic EPS3,4 13.0p 14.5p (10)% 15.3p 15.0 2% Dividend per share4 4.0p 3.5p 14% Net Debt5 220.4 256.7 (14)% Covenant Leverage6 0.7x 1.0x (0.3)x ROIC7 10.0% 10.0% - FINANCIAL HIGHLIGHTS Operational focus and agile delivery generated a strong first half financial performance · Resilient end-markets continued to be supported by long-term structural growth drivers · Dynamic pricing tailwind more than offsets expected lower volumes, leading to revenue increase of 11% or 7% on a like-for-like basis · Underlying EBIT growth of 5% reflects revenue drop through, partially offset by higher energy costs as hedges moved back into line with market pricing Financial flexibility maintained while investing for growth · ROIC maintained at 10% · Investment in three strategic bolt-on acquisitions · Significantly lower Covenant Leverage at 0.7x due to lower seasonal working capital outflow, good control of inventories and strong cash collection Interim dividend increased significantly ahead of earnings by 14% to 4.0p · Reflecting our confidence in the prospects of the Group and in keeping with our progressive dividend policy OPERATING HIGHLIGHTS Emphasis on operational excellence and cost recovery · Self-help; all divisions initiated operational excellence reviews, Cement executed two scheduled kiln maintenance shutdowns on time and within budget · GB revenue increased 10%; completed two bolt-on transactions and delivered a solid first half through nimble execution, strong pricing tailwind and careful cost management · Ireland grew revenue 11%; traded well through tendering season, winning work on quality, and completed the acquisition of Robinson Quarry Masters · Cement increased revenue 18%; strong pricing was sustained, enabled by resilient end-market demand Significant sustainability milestones achieved · Key partner in the launch of the Peak Cluster initiative, an innovative carbon capture and storage collaboration aiming to reduce industry emissions significantly · 'Breedon Balance', our range of products with sustainable attributes, continued to gain traction, accounting for 30% of revenue · Further improvement in our rate of Cement alternative fuel substitution to 50% (2022: 48.5%) ADMITTED TO THE MAIN MARKET OF THE LONDON STOCK EXCHANGE Breedon shares now traded on the Main Market · We expect to be eligible for inclusion in the FTSE 250 and FTSE-All share indices at the next index review in September 2023 CURRENT TRADING AND OUTLOOK Well-positioned for the second half; full year expectations maintained · The end-markets we serve have remained resilient. End-market visibility beyond 2023 remains limited in light of the uncertain economic outlook · In response, we have increased our emphasis across the Group on operational excellence and agility to ensure Breedon is as competitive as it has ever been · Well-positioned for the second half of the year; the Group is trading in line with the Board's expectations which remain unchanged Rob Wood, Chief Executive Officer, commented: "In the first half our vertically-integrate "The long-term structural dynamics driving infrastructure spending and housebuilding in GB and Ireland have not changed. To ensure we can efficiently and sustainably meet long-term demand for our essential construction materials, we have re-doubled our focus on those factors under our control; keeping our people safe and well while minimising the cost of production and maximising the value of the extensive portfolio of assets we own and acquire. "By emphasising the operational factors we can influence, we will ensure we remain competitive and continue to deliver outstanding results. By challenging our procedures and practices, we can be sure we will be in the strongest possible position when our end-markets return to growth." |
Posted at 04/7/2022 19:32 by tole https://www.fool.co. |
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