Breedon Group - H1 well ahead and FY guidance lifted significantly; maiden dividend announced

Davy Research
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There is a lot to like in the Breedon results this morning. H1 numbers are well ahead of expectations and guidance for the full year has been lifted materially (+9% versus consensus). Leverage has fallen and the company has announced its maiden dividend along with a progressive policy going forward. We expect significant upward pressure on consensus estimates.