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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Breedon Group plc    BREE   JE00B2419D89

BREEDON GROUP PLC

(BREE)
  Report
Delayed Quote. Delayed London Stock Exchange - 11/30 11:35:18 am
82.2 GBX   +0.24%
11/25BREEDON : Investor presentation November 2020
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11/13BREEDON GROUP PLC : quaterly sales release
11/11UK Regulator Invites Comments on Breedon's Cemex Asset Buy Before Final Ruling
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Breedon : completes acquisition of assets from CEMEX

08/03/2020 | 02:22am EST

NEWS RELEASE

3 August 2020

BREEDON GROUP PLC

("Breedon" or the "Company")

Completion of acquisition of assets

from CEMEX UK Operations Limited ("CEMEX")

Breedon is pleased to announce the completion on 31 July 2020 of its acquisition of certain assets and operations from CEMEX, as announced on 8 January 2020.

As previously indicated, the Competition and Markets Authority ("CMA") has instructed that these assets should be held separate from Breedon until it has completed its investigation. Accordingly, the assets will be operated as Pinnacle Construction Materials ("Pinnacle"), a newly-createdring-fenced business led by an independent management team and operating from its own offices.

Pinnacle offers a comprehensive range of heavy building materials, including aggregates, asphalt, ready-mixed concrete, concrete products and cement, together with contracting services, from approximately 100 locations in England, Wales and Scotland.

This acquisition brings with it a portfolio of high-quality,well-located operations with a strong team of some 650 employees and a further 170 million tonnes of mineral reserves and resources. It will strengthen Breedon's regional footprint in the UK and provide a platform for future expansion.

The CMA is presently undertaking a Phase 1 investigation, in respect of which the CMA are expected to announce their initial conclusions on or before 26 August 2020. Following the conclusion of the CMA's investigation, which could still take several months, and subject to the outcome of that investigation, the assets are expected to be incorporated into Breedon's UK business.

- ends -

Enquiries:

Breedon Group plc

01332 694010

Pat Ward, Group Chief Executive

Rob Wood, Group Finance Director

Stephen Jacobs, Group Head of Communications

07831 764592

Cenkos Securities (NOMAD and Joint Broker to Breedon)

020 7397 8900

Max Hartley

Harry Hargreaves

Numis Securities (Joint Broker to Breedon)

020 7260 1000

Ben Stoop

Heraclis Economides

Teneo (Public Relations Adviser to Breedon)

020 7420 3180

Matt Denham/Rachel Miller

Note to editors

Breedon Group plc is a leading construction materials group in Great Britain and Ireland. It operates two cement plants and an extensive network of quarries, asphalt plants and ready-mixed concrete plants, together with slate production, concrete and clay products manufacturing, contract surfacing and highway maintenance operations. The Group employs nearly 3,000 people and has nearly 900 million tonnes of mineral reserves and resources.

Disclaimer

Breedon Group plc published this content on 03 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2020 06:22:23 UTC


© Publicnow 2020
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Financials
Sales 2020 885 M 1 181 M 1 181 M
Net income 2020 32,6 M 43,5 M 43,5 M
Net Debt 2020 399 M 533 M 533 M
P/E ratio 2020 42,5x
Yield 2020 -
Capitalization 1 387 M 1 850 M 1 852 M
EV / Sales 2020 2,02x
EV / Sales 2021 1,61x
Nbr of Employees 3 000
Free-Float 88,1%
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Technical analysis trends BREEDON GROUP PLC
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 9
Average target price 94,11 GBX
Last Close Price 82,20 GBX
Spread / Highest target 27,7%
Spread / Average Target 14,5%
Spread / Lowest Target -9,98%
EPS Revisions
Managers
NameTitle
Patrick Robert Ward Group Chief Executive Officer & Executive Director
Amit Bhatia Non-Executive Chairman
Robert Wood Group Finance Director & Executive Director
Clive Graeme Watson Senior Independent Non-Executive Director
Mansurah Talat Mannings Independent Non-Executive Director
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