REG - Brickability Group - Pre-Close Trading Update

BrickabilityAnnouncement

21/04/2022 07:00

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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                                    via Montfort Communications

 John Richards, Chairman

 Alan Simpson, CEO

 Mike Gant, CFO

  
 Cenkos Securities plc (Nominated adviser and broker)      +44 (0) 207 397 8900

 Ben Jeynes, Max Gould (Corporate Finance)

 Julian Morse, Alex Pollen (Sales)

  
 Montfort Communications (Financial PR)                     +44 (0) 203 514 0897

 James Olley                                               brickability@montfort.london

 Georgia Colkin

 

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.

 

 

 

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