Tarmac's latest financial results (12 months to 30 December 2003)
show turnover of £1.4bn generating an operating profit of
£160m.
There has been a push to transform Tarmac into a global aggregates
player, since its acquisition by Anglo American. Group turnover now
splits between 80% in the UK and 20% overseas, with Robertson
pushing hard to lift the latter figure higher.
As well as building stronger positions in Spain and France, there
is a push to establish market share in eastern Europe, particularly
in Poland and the Czech Republic. "These two are the most important
in that area as they have just come into the EU and the betting is
that investment will grow as they suck up UK and western European
taxpayers' money," said Robertson.
"They are fragmented markets with no consolidated players. Our
acquisitions are typically costing around £3m to
£9m."
The UK aggregates market has been stable for the past three years,
although Robertson has no trouble envisaging the current big five
players - Anglo American, RMC, Lafarge, Hanson and Aggregate
Industries - being whittled down to four.
"After all, the list of majors has already come down from eight,"
he said. Asked which way he expects the cake will be cut, he smiles
but remained silent.
There was speculation recently that someone was interested in
snapping up Marshalls. That someone was Tarmac. "Really, the
trouble with these things is making the numbers stack up,"
Robertson said.
Not surprisingly, Tarmac is about to make its own push into the
decorative paving sector with a new production plant at
Pocklington. "There is significant growth in this market and scope
for extra capacity. We may build other plants as well as the one at
Pocklington," added Robertson.