Profits and turnover up at Aggregate Industries

Aggregate Industries’ operations in the UK in the first half of 2004 were dampened by delays to a number of highway maintenance programmes. The biggest impact was felt in the Midlands Region where volumes fell – in asphalt in particular.

The group’s interim results (six months to 30 June) announced this morning (Monday) show group turnover higher at £730m and with pre-tax profit moving in the same direction, up £5m at £45m.

Operations in the UK accounted for £310m of turnover. UK operating profit was down by £2m though some regions held up - the north, Scotland and the south west.

Total aggregate volumes in the UK rose by just 1% on a like-for-like basis. Asphalt volumes were 6% lower but margins held steady.

Ready-mixed concrete volume was 6% higher but margins were checked by the competitive market.

Some £20m was spent on UK acquisitions during the first half: including Aggregate Supplies, a supplier of bagged aggregates; a 51% interest in Concrete Developments, a manufacturer of block and hollow core flooring products; and Woodhall Spa Sand and Gravel, based in Lincolnshire.