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Nov 18 2020, 08:00 GMT
Breedon Group
Guidance lifted as activity continues to improve
- Sectors : Building Materials
- Companies : Breedon Group
DAVY VIEW
Breedon has raised its FY profit guidance as activity continues to improve in its end-market. That reflects like-for-like sales growth in September and October (we estimate c.7%) but also impressive execution across the group. Debt levels were also guided better and will now be below £400m by year-end. The statement further confirms our positive stock view, and we reiterate our ‘Outperform’ rating and 98p price target.
