AGM Statement

RNS Number : 3442Y

Brickability Group PLC

06 September 2022

 

Brickability Group PLC  

LEI:  213800SK28MWXB3K3P26  

6 September 2022

Brickability Group plc

("Brickability" or "the Group")

AGM Statement

Brickability Group plc (AIM: BRCK), the leading construction materials distributor, announces that at the Company's Annual General Meeting ('AGM') due to be held today at 12:00 pm at the offices of the Company at Queensgate House, Cookham Road, Bracknell, Berkshire, RG12 1RB, John Richards, Chairman, will make the following statement. 

"When we issued our preliminary results for the 2022 financial year on 21 July 2022, it was noted that trading for the first quarter of the 2023 financial year had been very encouraging and that the Group was, at the time, tracking slightly ahead of the markets expectations.  I am pleased to report that trading has since continued strongly through the summer months and that the Group is in line to meet these updated market expectations for the full year ending 31 March 2023 ('FY23')*.

"FY23 has seen the Group continue to execute on its growth strategy, with the acquisition of Modular Clay Products increasing the Group's presence in the specification sector and bringing new access to a range of European manufacturers, further boosting Brickability's brick import capabilities.  I am also pleased to welcome two new independent non-executive directors, Susan McErlain and Sharon Collins, to the Brickability board, whose experience and advice will further assist in building out our business. 

"Whilst the macro-economic conditions in the UK and Europe of high energy prices and inflation have been well publicised, the UK housebuilding market continues to be in structural deficit and housebuilding activity continues to be resilient. With that in mind the Group looks to the near future with cautious optimism.

"I would like to take this opportunity to thank all of my Brickability colleagues for their continued hard work. Their drive and entrepreneurial spirt provides Brickability with its adaptability, diversity, strength and ability."

*FY23 market expectations as at the date of this announcement of EBITDA of £43 million.

- Ends -

For further information please contact:

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)	[phone]
Montfort Communications James Olley Georgia Colkin	[phone]

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 550m bricks annually and has over 55 locations across the country with over 600 employees.

 

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