Breedon Aggregates Ltd (LON:BREE), which produces materials for the construction industry, brushed aside uncertainty caused by the Brexit vote as it reported an excellent first half operating performance and a 19% increase in pre-tax profit.
The largest independent aggregates business in the UK, which also has a Scottish division, also updated on the regulatory process of its acquisition of Hope Construction Materials, announced last November.
"Whatever the prognosis for the UK economy, we remain confident that we can continue to generate value for our shareholders," it said.
"We have some major contracts which will help to underpin our performance during a period of uncertainty, along with a strong balance sheet and a record of strong cash generation in challenging markets," it added, reporting results for the six months to end June.
There were strong contributions from Scotland and England, and the underlying earnings (EBIT) margin improved to 14%, it said.
Pre-tax profit was £20.9 million compared to £17.5 million in the same period of last year - up 19%, while revenue was 163.0 million versus £160.5 million last year.
The firm also invested heavily, as planned in the period, to expand capacity and said it remained confident of meeting 2016 market expectations.
The group said 4.6 million tonnes of aggregates had been sold as at June 30, 2016 (30 June 2015: 4.5 million tonnes) and 0.9 million tonnes of asphalt - the same figure as last year.
It added 0.5 million cubic metres of ready-mixed concrete were sold (30 June 2015: 0.4mln).
In Scotland, Breedon won its largest contract to date, valued at up to £55 million - a joint venture with Whitemountain Quarries Limited to supply and lay asphalt.
It also began to supply materials under a £10 million contract with Wills Bros John Paul JV, to the £35 million first stage of the A9 dualling project.
In England, it was involved in high-profile projects, such as Jaguar Land Rover's i54 development, Amazon's new distribution centre in Leicestershire and the Worcester Southern By-pass.
Separately, it said it had entered agreements for the sale of the 14 ready-mixed concrete plants required by the Competition and Markets Authority (CMA) in connection with the group's acquisition of Hope.
It said it remained confident of being able to complete the main Hope transaction on August 1 this year, subject to CMA approval
On completion of the acquisition, the enlarged group will be called Breedon Group plc and comprise three divisions.
Breedon Northern will combine its Scottish operations with Hope's aggregates and ready-mixed concrete operations in Scotland and the north of England; Breedon Southern will combine Breedon's operations in England and Wales with Hope's remaining aggregates and ready-mixed concrete operations, whole Hope Cement will consist of all of Hope's cement assets.
Peter Tom, executive chairman said the Hope deal remained "compelling".
"We fully intend to use this strengthened platform to continue to pursue our strategy of consolidating the UK building materials market. Indeed, we believe that market uncertainty may create further opportunities for value-creating acquisitions and we are currently considering a number of potential bolt-ons."