Independent aggregates business Breedon Aggregates has announced its audited annual results for the year ended 31 December 2012.
Sales rose 2.7% to £173.5m, underlying operating profit was up 55% at £8.8m.
Within the year, the company sold 4.3 million tonnes of aggregates, 1.2 million tonnes of asphalt and 481,000 cubic metres of ready-mixed concrete.
Peter Tom, executive chairman, said: “I am pleased to report that, despite the worst trading conditions I can remember in my 50 years in this industry, Breedon Aggregates continued to grow and prosper in 2012. Group revenues increased and our profitability improved.
“Looking ahead, the challenges in 2013 look like being every bit as tough as they were last year. The Construction Products Association is forecasting that construction output will fall by more than 2%, with no meaningful recovery until 2014. Against this backdrop, it would be easy to let the gloom get the better of us, but we have a strong and finely-tuned business which is well equipped to cope with difficult economic conditions and we remain enthusiastically committed to growing the Group in the years ahead.
“When we created Breedon Aggregates in 2010, we did so in the knowledge that we could expect little or no help from the construction market. Our models were predicated on delivering real value if necessary through self-help alone. It is this approach and mindset which give us the confidence to anticipate another year of progress in 2013.”