(Alliance News) - Construction materials firm Brickability Group PLC on Tuesday said its annual performance was "solid" despite being mired in political and economic uncertainty.
The London-based firm expects to report revenue of roughly GBP188 million in the financial year that ended March 31 and adjusted earnings before interest, tax, depreciation and amortisation of GBP19.4 million.
It will be Brickability's first set of annual results since raising GBP57 million in its initial public offering back in August.
The IPO led by Cenkos Securities PLC was priced at 65 pence a share.
Chair John Richards said: "Brickability reached a major milestone last year with its successful IPO and I am pleased that, despite the wider economic and political challenges that have created uncertainty, we continue to deliver the strategy we set out when going public. It shows that in Brickability we have a strong business and it gives us confidence for the future."
In London on Tuesday afternoon, Brickability was 2.7% higher at 47.25p per share.
"In a year which saw significant political and economic uncertainty, the Group delivered a solid trading performance," the company said.
Brickability began reopening its sites on May 1, following the Covid-19 lockdown.
"The group fundamentally believes that the underlying demand for UK housing remains robust and that increasing housing supply in the UK remains a key objective for government. The acquisition pipeline remains strong with the group assessing a number of potential opportunities in line with the group's stated strategy to provide geographic and product expansion whilst focusing on improving profitability," Brickability said.
By Eric Cunha; ericcunha@alliancenews.com
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Brickability Group (BRCK)