StockMarketWire.com - Breedon said a recovery in its markets was 'well underway' after the construction materials group swung to a half-yearly loss as operations were halted following government-imposed lockdowns.

For the six months ended 30 June 2020, the company reported a pre-tax loss of £10.1m, compared with a profit of £39.5m on-year, as revenue fell 25% to £335.3m.

'The Covid-19 lockdown at end of March prompted an immediate fall in demand and managed shutdown of most operations,' the company said.

'The recovery in our markets now appears to be well underway, and we have seen continued improvement into July. The great majority of our sites are now open, including both our cement plants,' the company said.

'While near-term uncertainty remains, there is significant pent-up demand to be satisfied in both housing and infrastructure, reinforced by the substantial programme of investment confirmed by the Chancellor earlier this month,' it added.




At 9:54am: [LON:BREE] Breedon Group PLC share price was -0.4p at 77.6p



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