Vaccine countdown update: 18 Nov - the irreplaceable is being replaced
Our coverage here includes terrific results from a highly regard AIM broker, where an “irreplaceable” Chairman has announced he is stepping down. Results from an asset manager look great, although we think there might be threats looming for their efficient business model.
Breedon: positive second halfLeading construction materials group Breedon (LON:BREE) reassured with its latest trading update seeing improving trends, with revenues in both September and October ahead of the prior year, on a like-for-like basis. The Group delivered revenues for the first 10 months of the year of £750m (2019: £800m), including three months contribution from the former CEMEX assets in the UK. Underlying EBIT for the full year is now anticipated to be at least £70m, ahead of current market expectations of £67m. Positive cash follow and asset disposals means that year end net debt is forecast to be below…