Building materials group Hanson today recorded a one per cent increase in pre-tax profits after facing difficult trading conditions during the past year.
The company, which has operations at Shoreham Harbour and quarrying interests in West Sussex, said higher fuel costs, unseasonal weather and some softer markets had impacted on its performance.
Pre-tax profits before one-off items came in at £318 million, just 1.2 per cent higher than the figure for 1999.
Hanson said it had successfully completed the acquisition of Australian group Pioneer and would concentrate on generating value from its existing assets during the coming year.
Andrew Douglas, chief executive, said: "2000 was a good year for Hanson in spite of difficult trading conditions Hanson, which rejoined the FTSE 100 Index of leading blue-chip stocks in December, said higher fuel charges had cost it more than £40 million in 2000.
Mr Douglas said the rise in fuel charges would now be recovered through higher prices, likely to be up by an average ten per cent in the UK.
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