UK's Breedon Group soars to over 3-year high on Lionmark acquisition

Breedon

05/03/2025 09:38

** Shares of British constructions materials company Breedon Group BREE.L up as much as 14% at 486.5p, highest since January 2022

** Co acquires U.S. based construction materials company Lionmark for $238 million

** BREE says economic landscape in the US is robust, benefiting from budget surplus, falling interest rates and net inward migration

** BREE attributes 6% growth in 2024 EBITDA and revenue on entering U.S. markets and cost controls

** Peel Hunt analysts say "despite tricky conditions in GB, we expect the business to continue making decent progress"

** As of last close, stock had risen 9.26% so far this year

 (
 Reporting by Simone Lobo in Bengaluru)

 ((Simone.Lobo@thomsonreuters.com; +919920570373;))