A construction materials group which has almost 3,000 staff said revenues and profits were up despite the current political and economic uncertainty.
Management at Leicestershire-based Breedon Group said they had seen a strong performance in the first 10 months of the year with continuing “robust” cash generation.
The business posted a positive trading update despite the “flat” construction market, in which sales of all major, heavy construction materials had dropped.
Breedon Group said revenues are up eight per cent so far this year at around £800 million.
The group is forecasting earnings before interest and tax of between £114 million and £118 million.
The business said: “Group sales volumes of aggregates increased by four per cent, asphalt by eight per cent and cement by six per cent, while ready-mixed concrete volumes declined by five per cent.
“Looking ahead, while the upcoming general election and ongoing Brexit negotiations create near-term uncertainty, the longer-term outlook for our markets remains encouraging with forecasters expecting GB construction to grow modestly in 2020 whilst Ireland is expected to see further double digit growth.
“Furthermore, we have consistently proved that we can produce superior results irrespective of market conditions.
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“Our focus on driving organic improvement, together with a healthy acquisition pipeline, gives us confidence that we will make further progress in 2020.”
The business said current cash generation allowed it to not only maintain a high level of investment, but to pay off some of its borrowings.
Based at Breedon-on-the-Hill, near East Midlands Airport, the business owns 80 quarries, 40 asphalt plants, as well as cement and concrete operations and has almost 900 million tonnes of mineral reserves and resources.
It is involved in sectors ranging from slate production to concrete and clay products manufacturing, contract surfacing and highway maintenance and has been growing organically and through the acquisition of businesses in the heavy construction materials market.
In 2018 the listed business sold 19.4 million tonnes of aggregates, 2.8 million tonnes of asphalt, 3.2 million cubic metres of ready-mixed concrete and 2 million tonnes of cement.
The share price was up about 7 per cent at 64p this lunchtime.