Trading Update

BRCK

09/02/2021 07:00

RNS Number : 3865O

Brickability Group PLC

09 February 2021

 

Brickability Group plc  

 

("Brickability" or "the Group"), 

 

Trading Update

Brickability Group plc ("Brickability" or "the Company" or "the Group"), the leading construction materials distributor, is pleased to provide the following update on trading.

Following the Interim Results for the six months ended 30 September 2020 the Group has continued its strong recovery and the lockdown measures since November 2020 have had little material effect on trading. Furthermore, throughout the pandemic the Group has maintained rigorous cost control while continuing to make acquisitions and other strategic investments.

As indicated in the Interim Results, the market for its products continues to improve and the fundamentals for housebuilding remain strong. Additionally, the Group had undertaken significant preparation for the UK's departure from the European Union on 31 December 2020 and has seen no negative impact to its trading arising from this.

The Group's order books reflect the underlying optimism that, given the need for more homes to be built and Government support for house building, demand will remain strong for quality building materials.

As a result of the above, the Group now expects an adjusted EBITDA* of at least £16 million for the full year to 31 March 2021.

 

*Adjusted EBITDA is defined as earnings before interest, tax, depreciation, amortisation, exceptional and acquisition costs.

-ENDS-

 

This announcement contains inside information.

 

Enquiries

Brickability Group plc
John Richards, Chairman
c/o Montfort Communications
Cenkos Securities plc (Nominated adviser and broker)
Max Hartley / Max Gould (Nomad)
Julian Morse (Sales)
+44 (0) 20 7397 8900
Montfort Communications
James Olley
Miles McKechnie
+44 (0)20 3770 7916

 

About Brickability

Brickability is a leading construction materials distributor, serving customers across the UK for over 25 years through its mainstream and local networks. The Company supplies over 300m bricks annually and already has 25 sites and sales offices, employing approximately 285 people throughout the UK. Across its three divisions, the Group supplies bricks, roofing, heating, flooring, doors and windows to meet UK housebuilder demand.

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