Half Year 2021 Breedon Group PLC Earnings Call Transcript
Good morning, everybody, and welcome to our 2021 Interim Results. I'm joined here this morning by James Brotherton, our CFO. We will run through the presentation and then open things up into a Q&A session.
In terms of highlights, Breedon's delivered a strong performance in the first half, this, despite the partial lockdown of the construction sector in the first quarter in the Republic of Ireland. In parallel to recovering the business post lockdown, our focus has continued on integrating the CEMEX acquisition into our GB business, and I am pleased to report that this is ahead of schedule and progressing our sustainability strategy, the detail of which I will update you on later in the presentation.
The improved performance, along with strong balance sheet management has led to a material reduction in leverage, which now stands at 1.2x. We have always flagged the highly cash generative nature of Breedon, and have consistently demonstrated this. Interestingly, when we announced the acquisition of CEMEX in January last year pre-COVID,
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