Quarry firm on ball to treble profits
The quarry firm headed by Leicester Tigers chairman Peter Tom is on track to treble annual profits.
Breedon Aggregates, based in Breedon-on-the-Hill, is set to raise pre-tax profits from £1.38 million last year to about £4 million in the year to December 31, according to analysts.
Revenue is set to rise by about 4 per cent to £175 million, it has been estimated.
The group, the UK's sixth-largest quarry business, yesterday confirmed results were anticipated to be in line with market expectations.
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The company announced in July it had bought Scottish business Speyside Sand and Gravel Quarries for just under £1 million.
However, the group said the outlook for 2013 remained uncertain, with the Construction Products Association forecasting no return to growth before 2014.
Last month, the business said it would not be bidding for assets which need to be sold to allow a £1.8 billion merger between larger rivals Lafarge and Tarmac.
It had previously said it would be looking to buy some of the businesses which the two groups have to off-load before their tie-up can be completed.
Breedon, where Mr Tom is executive chairman, operates 27 quarries, 18 asphalt plants and 40 readymixed concrete plants in England and Scotland and employs about 800 people, including about 100 in Leicestershire.