Eagle Materials boosted by acquisition

Eagle Materials boosted by acquisition
Published: 05 February 2014

Including its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the first nine months to 31 December 2013 rose by 37.2 per cent to US$757m.

The trading profit before corporate overheads increased by 67.5 per cent to US$184.7m, of which cement contributed 41.9 per cent. The trading profit advanced by 96.8 per cent to US$166.3m. After a net interest charge 27.6 per cent higher at US$14.2, the pre-tax profit jumped by 107.3 per cent to US$152m and the net profit emerged 103.6 per cent higher at US$101.6m.

Shareholders' funds at the end of December were 17.1 per cent higher than a year earlier at US$805.4m and the gearing level was reduced from 66.9 per cent a year earlier to 47.8 per cent, thanks to the share issue to help finance the cement operations acquired from Lafarge.

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