Breedon Group plc have announced an interim dividend of 0.70p per share (H1 2021: 0.50p per share). This will be paid on 30 September 2022 to all shareholders on the register at 26 August 2022 (ex-dividend date 25 August 2022).
Other financial highlights include:
•Focused execution of strategy delivering higher revenue, earnings and returns
o Volume normalising as expected, compared with Covid-recovery inflated H1 2021
o Serving resilient structurally attractive markets; infrastructure, industrial, house building
o Well-underpinned by central Government policies and sustainability agenda
•Rational pricing environment and hedging policy enabled full cost recovery
o Underlying EBIT margin recovering to 10.0% (H1 2021: 9.4%)
o ROIC increased to 10.0% (H1 2021: 9.2%), achieving their medium term target, reflecting improving profitability and disciplined capital allocation
•Strong financial position maintained; Covenant Leverage 1.0x (H1 2021: 1.2x) reflects increased capital investment, seasonal working capital outflow and payment of final dividend
•Sustainability agenda progressed; committed to the Science Based Targets initiative
