Last checked at 18 Jan 2022 07:00
18 January 2022
Brickability Group plc
("Brickability" or "the Group")
Trading Update
Brickability Group plc (AIM: BRCK), the leading construction materials distributor, today announces the following update on trading for the financial year ended 31 March 2022.
Following the release of the interims results for the six months ended 30 September 2021, the Group has continued to deliver a strong performance across all of its business divisions. As a result, the Brickability Board is pleased to announce that it now expects to report an adjusted EBITDA* of a least £32 million for the full year to 31 March 2022, ahead of current market expectations.
The Group's continued positive performance, despite the wider challenges and uncertainty caused by the COVID-19 pandemic and industry supply chain disruption, further demonstrates the strength, agility and operational efficiency of Brickability's diverse multi business strategy, as it continues to successfully navigate these pressures.
Taylor Maxwell and the other businesses acquired by the Group during the current year have continued to perform well and the sustained positive momentum and optimism within the UK housebuilding sector is reflected in the Group's forward order book levels, with demand for the Group's product offering building throughout this year and expected to continue into the new financial year.
Looking ahead, the Board remains confident that the Group is well placed to continue delivering on its strategic objectives and the underlying growth of the business.
*Adjusted EBITDA is defined as earnings before interest, tax, depreciation and amortisation, share option expense, acquisition costs and exceptional items.
ENDS
This announcement contains inside information.
Enquiries:
Brickability Group plc John Richards, Chairman Alan Simpson, CEO Mike Gant, CFO
| via Montfort Communications |
Cenkos Securities plc (Nominated adviser and broker) Ben Jeynes, Max Gould (Corporate Finance) Julian Morse, Alex Pollen (Sales)
| +44 (0) 207 397 8900 |
Montfort Communications (Financial PR) James Olley Georgia Colkin
| +44 (0) 203 514 0897 brickability@montfort.london |
About Brickability
Brickability is a leading construction materials distributor, serving customers across the UK and Europe for over 36 years through its national and local networks. The Group supplies over 500m bricks annually and has 41 locations across the country with over 500 employees.
Across its 3 divisions the Group supplies bricks, roofing, timber, cladding, heating, flooring, doors and windows to meet demand from both housebuilders and contractors.