Dec 20 2006
Hanson PLC has issued the following trading statement ahead of the 22 February 2007 announcement of its preliminary results for the year ending 31 December 2006.
'Overall, trading for the second half of the year has been in line with our expectations and the full year operating profit (includes share of joint ventures' and associates' profit after tax, and excludes operating impairments) is anticipated to be more than 10% ahead of last year (2005: £488.8m).
In North America, our two divisions have maintained earnings growth momentum. This highlights the strength of our geographic spread and our balanced end-use exposure, with the majority of our demand coming from infrastructure, industrial and commercial construction.
Our businesses in the UK are performing well in a challenging market. Demand for building products is starting to show tentative signs of recovery. Overall, demand in Australia and Continental Europe remains solid.
The acquisitions completed in the first half have made a good contribution to earnings. A further four acquisitions have been completed to date in the second half of the year. Acquisition investment for the year to date now totals around £560m and the pipeline of potential acquisitions for 2007 is encouraging.'
Alan Murray, Chief Executive, commented: "Hanson has continued to deliver earnings growth in 2006 against a strong 2005. We have a unique mineral reserve position. Our network of assets and people provide a strong platform for growth, particularly in the USA which has an attractive demographic profile and a $286 billion ring-fenced spending programme for infrastructure. We remain confident for the future".