Brickability Group plc Trading Update

LONDON – Brickability Group plc (AIM: BRCK), a prominent UK construction industry distributor and service provider, announced a steady financial performance in a recent trading update for the half-year period ending September 30, 2024.

The company reported revenues exceeding £330 million, marking a 2% increase from the previous year but a 7% decline on a like-for-like basis.

Despite a general downturn in new housing builds, Brickability has seen growth in its Distribution division, particularly due to a surge in solar PV sales via Upowa. The company's diversification strategy appears effective, with newly acquired cladding and fire remediation contracting businesses significantly contributing to the performance in the first half.

The forward order book looks balanced, driven by a rise in brick orders and a recent increase in product inquiries, suggesting a potential market recovery within the current financial year. The Board is confident, anticipating an adjusted EBITDA of at least £27.5 million for the first half, surpassing last year’s £25.6 million.

Brickability's net debt is projected to be around £56 million after acquisition-related payments exceeding £8 million. Despite market challenges, the strategic acquisitions and product diversification have enabled the company to maintain a strong position, with full-year expectations remaining unchanged.

This update is based on a press release statement from Brickability Group plc.

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