Latest news with #Breedon
Times
09-08-2025
- Business
- Times
The hard truth of falling concrete sales: we're not building enough
Believe it or not, concrete is the most widely-used man-made product on the planet. So what does it say about Britain that demand for it has fallen to a 62-year low? Figures released last week revealed that ready-mixed concrete volumes had dropped to 2.7 million cubic metres in the three months to June, the lowest levels since 1963. Hot on their heels came a separate report by S&P Global that found that UK construction activity had fallen at its sharpest rate for five years. The situation comes as little surprise to Rob Wood, the boss of the UK's biggest concrete manufacturing facility. Wood, chief executive of Breedon, a £1.3 billion business listed on the London Stock Exchange, bemoaned 'a generation of underinvestment in infrastructure and housing'. • Cement works in Wales to capture carbon on industrial scale 'Concrete is the product that really underpins the construction industry,' he added. 'But if you look at the state of our infrastructure, whether it is the roads, the hospitals, the schools, water or sewage, or our national grid; we are at 11.59 with a lot of it.' By which he means, if the industry had a doomsday clock, it would be at one minute to midnight. Ready-mix concrete is principally made from cement, water and aggregates such as gravel or sand. It is the second most consumed material in the world behind water, Wood said. Breedon operates two cement plants and has more than 200 ready-mixed concrete works. Wood said the decline in demand for concrete and the weak construction figures ought to jolt the government into action. 'They have made so many pro-growth statements. They've published the industrial strategy… but they need to do something and not just talk about it,' said Wood. Last week's figures will heap pressure onto the government, which has vowed to relax the planning restrictions in an effort to build 1.5 million homes in England between 2024 and 2029. However, it has faced criticism that the Treasury had mounted a stealth corporate tax raid by shaking up the way in which landfill tax is charged. Revealed by this newspaper last month, the Treasury wants to scrap exemptions and reduced rates for landfill tax, which could lead to a 30-fold increase in the cost of disposing top soil. Industry sources said that the backlash had prompted a rethink among officials within the Exchequer, though details are yet to be confirmed. 'The sharp downturn in construction activity undermines the government's stated ambition to deliver 1.5 million new homes,' said Brian Berry, chief executive of the Federation of Master Builders. 'July's plunge should be setting alarm bells ringing across both industry and government.'
Business Insider
07-06-2025
- Business
- Business Insider
Davy downgrades Breedon (BREE) to a Hold
Breedon (BREE – Research Report) received a Hold rating and a p500.00 price target from Davy analyst yesterday. The company's shares closed today at p447.40. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Currently, the analyst consensus on Breedon is a Strong Buy with an average price target of p539.80. BREE market cap is currently £1.55B and has a P/E ratio of 15.80. Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BREE in relation to earlier this year.
Edinburgh Reporter
01-05-2025
- Business
- Edinburgh Reporter
Bonnington Mains quarry denied permission to expand
A quarry in Edinburgh has been denied permission to expand over concerns about the impact on locals. The Bonnington Mains quarry, which sits just south of the junction of the M8 and M9 in Newbridge, had applied for planning permission to expand in fields to the southwest. Council officers recommended that planning permission be granted, but a majority of Edinburgh's development sub committee voted against it. Owned by construction materials firm Breedon, the quarry opened in the early 1990s, with a period of closure through the 2010s. Bosses at the firm told councillors that they wanted to open a material recycling site on the premises, and use products from it to fill in the quarry when it closes. But some locals said they did not believe their plans were feasible. One objector told councillors: 'We believe that this resource is best kept in the ground at this time. This will, for a historic amount of time, be a massive cavity in the ground. 'It will be restored some way by reclamation, but it will not be restored to farmland. We will not get this hole in the ground taken away.' Respondents and councillors also raised concerns about the impact of the expanded quarry on the local area, as well as the increased road traffic it could cause. Councillors eventually voted eight to three against approving the expansion of the quarry. The decision stood in contrast to another one later in the day, where the same councillors approved the expansion of the Ravelrig quarry west of Balerno. SNP councillor Neil Gardiner, who represents part of the area surrounding the quarry, told the Local Democracy Reporting Service: 'Following numerous local objections Ratho residents will be happy that the proposed quarry on the farm field next to Bonnington Mains Quarry was rejected at the Development Management Subcommittee. 'This field is not identified for mineral extraction in the City Plan 2030 and has protections as a countryside area. 'The Ratho Community also has concerns about the current quarry.' By Joseph Sullivan Local Democracy Reporter Like this: Like Related
Edinburgh Live
01-05-2025
- Business
- Edinburgh Live
Edinburgh quarry expansion plan rejected over impact on local residents
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info A quarry in Edinburgh has been denied permission to expand over concerns about the impact on locals. The Bonnington Mains quarry, which sits just south of the junction of the M8 and M9 in Newbridge, had applied for planning permission to expand in fields to the southwest. Council officers recommended that planning permission be granted, but a majority of Edinburgh's development sub committee voted against it. Owned by construction materials firm Breedon, the quarry opened in the early 1990s, with a period of closure through the 2010s. Bosses at the firm told councillors that they wanted to open a material recycling site on the premises, and use products from it to fill in the quarry when it closes. But some locals said they did not believe their plans were feasible. One objector told councillors: 'We believe that this resource is best kept in the ground at this time. This will, for a historic amount of time, be a massive cavity in the ground. 'It will be restored some way by reclamation, but it will not be restored to farmland. We will not get this hole in the ground taken away.' Respondents and councillors also raised concerns about the impact of the expanded quarry on the local area, as well as the increased road traffic it could cause. Councillors eventually voted eight to three against approving the expansion of the quarry. The decision stood in contrast to another one later in the day, where the same councillors approved the expansion of the Ravelrig quarry west of Balerno. SNP councillor Neil Gardiner, who represents part of the area surrounding the quarry, told the Local Democracy Reporting Service: 'Following numerous local objections Ratho residents will be happy that the proposed quarry on the farm field next to Bonnington Mains Quarry was rejected at the Development Management Subcommittee. "This field is not identified for mineral extraction in the City Plan 2030 and has protections as a countryside area. "The Ratho Community also has concerns about the current quarry.'
