Pre-Close Trading Update

RNS Number : 8141I

Brickability Group PLC

21 April 2022

 

21 April 2022

Brickability Group plc    

("Brickability" or "the Group"),  

Pre-Close Trading Update

Brickability Group plc (AIM: BRCK), the leading construction materials distributor, is pleased to provide the following update on trading for the year ended 31 March 2022.

As set out in the Company's Trading Update of 18 January 2022, the Group commenced the second half of the financial year with each of Brickability's business divisions delivering strong performance and  with the Group then expecting that demand for the Group's diverse multi business product offering would continue to build throughout the remainder of the year.

The Group is now pleased to confirm that due to ongoing positive momentum, this strong delivery has continued, with a very strong fourth quarter of the full financial year having been achieved.

As a result, the Group announces that it now expects to report revenues for the full year ended 31 March 2022 of approximately £520 million and adjusted EBITDA* of not less than £38 million, ahead of current market expectations.

Whilst remaining conscious of potential inflationary impacts, near term macro-economic conditions and the prevailing global geo-political backdrop, the Group believes that the underlying long term demand for UK housing remains robust as does the demand for quality materials for the construction sector generally. The Board remains confident that the Group is well placed to continue delivering on its strategic objectives and the underlying organic growth of the business.

In addition, 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.

The Group will notify the date of its full year results for the twelve months ended 31 March 2022 in due course.

*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)	[phone]
Montfort Communications (Financial PR)  James Olley  Georgia Colkin	[phone] [e-mail]

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.

 

END

 

 

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